Hong Kong stocks flat as tech offsets property sector rebound

Hong Kong's stock benchmark was roughly flat on Tuesday, as the weak performance in tech shares offset the rebound in property sector after China finalised cybersecurity rules.

Hong Kong's stock benchmark was roughly flat on Tuesday, as the weak performance in tech shares offset the rebound in property sector after China finalised cybersecurity rules. ** The Hang Seng index was flat at 23,289.84, while the China Enterprises Index edged down 0.1% to 8,180.16 points.

** China's cyberspace regulator said on Tuesday it would implement new rules from Feb. 15 that require platform companies with data for more than 1 million users to undergo a security review before listing their shares overseas. ** The Hang Seng Tech Index fell 1%, having erased early gains.

** * But property shares rebounded sharply, as uncertainty around the sector's financial health boosted volatility. ** The Hang Seng Mainland Properties Index bounced 3.5%, following the 2.8% decline in the previous session.

** Shares of China Evergrande Group jumped as much as 10% in resumed trade on Tuesday after the developer said a government order to demolish 39 buildings on the resort island of Hainan would not affect the rest of its project there. ** Chinese telecommunication stocks, including China Telecom , China Unicom and China Mobile rose ahead of China Mobile's Shanghai listing on Wednesday.

** China Mobile sold 845.7 million shares at 57.58 yuan ($9.06) each in Shanghai, representing a 50% premium to its Hong Kong share price.