China Market Update: Mainland Moves Higher, Internet Companies Move Lower After Regulatory Slap On Wrist

The Hang Seng Index was off -0.44% led by internet names after Meituan, Alibaba, and Tencent-backed China Literature were each fined RMB 500,00 (USD 76,000) under the new anti-monopoly law that appears focused on prohibiting large companies from financing loss-generating subsidiaries, which crowd...