China stocks drop, led by semiconductor shares; HK market close

** Hangzhou Changchuan Techonology Co. and Sai Microelectronics Inc. lost 5.8% and 4.5%, respectively. ** At least eight China-listed gaming companies, including Perfect World Co, have announced share buyback plans worth as much as 780 million yuan ($109.17 million) in total to boost investor confidence and stabilise share prices across an industry shaken by new regulatory moves.

China stocks declined on Tuesday, dragged down by semiconductor shares, while gaming stocks stabilised after a slew of companies announced share buyback plans. The Hong Kong market is closed for a holiday. ** China's blue-chip CSI300 Index and the Shanghai Composite Index both dropped 0.7% by the lunch break.

** Semiconductor and information technology shares led the decline, both down 2.1%. ** Hangzhou Changchuan Techonology Co. and Sai Microelectronics Inc. lost 5.8% and 4.5%, respectively.

** At least eight China-listed gaming companies, including Perfect World Co, have announced share buyback plans worth as much as 780 million yuan ($109.17 million) in total to boost investor confidence and stabilise share prices across an industry shaken by new regulatory moves. ** Share prices of those companies mostly stabilised on Monday after sharp declines, with the CSI Anime Comic Game Index still down 1.6%.

** Despite the broad weak sentiment, coal and energy stocks edged up, as investors prefer high-dividend and low-valuation sectors. ** China's onshore shares are still searching for a bottom and may cross the inflection point around Lunar New Year, analysts at Orient Securities said in a note on Tuesday.

($1 = 7.1449 Chinese yuan renminbi)

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