April 28, 2014 / 8:10 AM / 4 years ago

Hong Kong shares slip as censorship fears weigh on Tencent

BEIJING, April 28 (Reuters) - Hong Kong shares finished down 0.4 percent on Monday, with index heavyweight Tencent the biggest drag as investors worried that a clampdown on online video might affect its revenue.

The Hang Seng Index closed down 0.4 percent at 22,132.53. The China Enterprises Index of the leading offshore Chinese listings in Hong Kong was off 0.3 percent.

Shares in Tencent fell 2.9 percent, after China’s State Administration of Press, Publication, Radio, Film and Television (SAPPRFT) banned four popular U.S. TV shows from being broadcast on online video streaming sites.

The ban is expected to signal a wider crackdown on foreign shows being aired on Chinese online platforms. Tencent’s website says it operates China’s biggest online video platform.

Shares of Yue Yuen Industrial Holdings Ltd rose 1.1 percent after the maker of footwear for brands including Nike Inc and Adidas announced that more than 80 percent of workers who have been on strike at its Dongguan factory returned to work.

China Telecom Corp Ltd shares gained 4.6 percent after the company posted an 18 percent increase in Q1 net profit on Monday. (Reporting by Natalie Thomas; Editing by Richard Borsuk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below