China tech stocks slide as regulators ramp up pressure on gaming

Technology stocks led Chinese shares lower as regulators took aim at gaming companies for focusing solely on profit, underscoring the market’s continued vulnerability to policy risks.

The Hang Seng Tech Index tumbled 4.5% as of 3:51 p.m. local time, with Tencent Holdings Ltd. dropping by almost twice that amount in its worst day in five weeks.

NetEase Inc. slumped more than 10% while Kuaishou Technology and Bilibili Inc. fell more than 8% as the Hong Kong’s tech gauge’s rebound from its August low came to an abrupt stop. The declines accelerated after the South China Morning Post reported that approvals for new