SYDNEY, Nov 30 (Reuters) - Hong Kong stocks fell to a
one-year low on Tuesday as regulatory concerns hanging over the
tech sector and the arrest of gambling boss Alvin Chau kept
investors from joining a global bounce out of COVID-19 worries.
Mainland shares steadied.
** At midday, the Hang Seng Index was down 1.09%
at 23,591.68, its lowest since September 2020. It has lost more
than 7% for the month, the biggest such fall since July.
** "There is no positive follow through from the U.S.," said
Kelvin Wong, an analyst at brokerage CMC Markets in Singapore,
citing crackdown fears in tech and gaming as major concerns.
** Traders said last week's news of pressure on ride-hailing
firm Didi Global to de-list in New York was driving
fear of more regulatory heat in the tech space. Speculation that
NetEase could be a target dragged shares 7%
** Alibaba's HK shares fell 2.7% to their lowest since
listing. Fellow online giant Tencent fell 1.6% and
food delivery company Meituan extended Monday's tumble
by another 3% to hit an almost eight-week low.
** Macau gambling firm Suncity Group Holdings Ltd's
shares almost halved upon resuming trade after CEO Alvin Chau
was arrested on Sunday. Investors also feared that the gaming
sector might be drifting into the authorities' crosshairs.
** Casino operators Sands China, Galaxy Entertainment
and Wynn Macau also extended losses. This
year, HK-listed gambling stocks have lost 40%.
** On the mainland, the Shanghai Composite index was up
0.23% at 3,571.01 points, rangebound but helped by an unexpected
pickup in factory activity. For the month, it has declined 0.6%.
** China's blue-chip CSI300 index was down 0.25%,
dragged lower by losses in consumer staples, down
1.77% and the healthcare subindex, down 1.24%. It
has fallen 1.4% in November.
** China's factory activity grew for the first time in three
months as the crippling surge in raw material prices and power
** The yuan was quoted at 6.3717 per U.S. dollar,
0.25% firmer than the previous close of 6.3876, also helped by
the better-than-expected manufacturing data.
** Around the region, MSCI's Asia ex-Japan stock index
was firmer by 0.10% while Japan's Nikkei index
was up 0.65%.
** Markets are awaiting further details on the virulence of the
Omicron coronavirus variant, while Hong Kong expanded a ban on
entry for non-residents from several countries and Australia
reviews containment steps.
(Reporting by Tom Westbrook; Editing by Devika Syamnath)