An executive order by U.S. President Joe Biden bars American investors from buying several Hong Kong-listed companies controlled by the Chinese government as of Monday. © AFP/Jiji

Trading tax hike adds to Hong Kong market gloom

Ongoing pivot toward China tech stocks sees bears stalk Hang Seng benchmark

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

August 2, 2021 05:30 JST

HONG KONG -- A move to reorient Hong Kong's benchmark share index toward Chinese technology stocks was intended to reinvigorate interest and help investors capture growth in the country's highest-profile growth sector.