SHANGHAI (Reuters) – Stocks in China and Hong Kong fell on Friday as heightened Sino-US geopolitical tensions hurt investor sentiment after U.S. lawmakers earlier accused TikTok of posting harmful content and push to ban the app.
The CSI300 index, which gathers the largest companies listed in Shanghai and Shenzhen, fell 0.3%, while the Shanghai index fell 0.64%. Hong Kong’s Hang Seng Index was down 0.67%.
For the week, the CSI300 gained 1.7% and the Hang Seng was up 2.0%.
US lawmakers on Thursday blasted TikTok’s chief executive, saying the app’s short videos were harming children’s mental health, pushing further to ban the app across the country.
The case of TikTok, whose parent company is Chinese ByteDance, has increased tensions between Washington and Beijing. Thursday’s congressional hearing came after the Biden administration required its Chinese owners to divest their stakes or face possible banning, TikTok said last week.
. In TOKYO, the Nikkei index fell 0.13% to 27,385 points.
. In HONG KONG, the HANG SENG index fell 0.67% to 19,915 points.
. In SHANGHAI, the SSEC index lost 0.64% to 3,265 points.
. The CSI300 index, which brings together the largest companies listed in SHANGHAI and SHENZHEN, fell 0.30% to 4,027 points.
. In SEOUL, the KOSPI index lost 0.39% to 2,414 points.
. In TAIWAN, the TAIEX index rose by 0.32% to 15,914 points.
. In SINGAPORE, the STRAITS TIMES index lost 0.20% to 3,212 points.
. In SYDNEY, the S&P/ASX 200 index fell 0.19% to 6,955 points.
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