JP#KUASORP2804E(69857.HK)

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China fines Kuaishou over $17 million for failure to curb offensive content

China's cyberspace regulator fined Kuaishou Technology 119.1 million yuan ($17.2 million) for failing to control pornographic and vulgar content on its platform. The fine follows a cyberattack on December 22, which exposed users to explicit content. Kuaishou admitted to not responding quickly enough and pledged to rectify the issue. The regulator criticized the company for not addressing system vulnerabilities and ordered remedial actions. This follows a previous fine of 26.7 million yuan for other offenses related to its e-commerce unit.

Reuters·
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Reuters·
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The Cyberspace Administration imposed penalties on the KUAISHOU platform in accordance with the law

The Beijing Internet Information Office issued a warning and a fine of 119.1 million RMB to KUAISHOU Technology Co., Ltd. for failing to fulfill its cybersecurity protection obligations. Investigations revealed that the KUAISHOU platform did not promptly address system vulnerabilities and illegal information posted by users, with serious circumstances and a negative impact. The company has been ordered to rectify the situation within a specified period and to handle the relevant responsible persons according to the law

Wallstreetcn·
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Wallstreetcn·
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Hong Kong Stock Market Closing | Hang Seng Index Pulls Back, Small-Cap Stocks like Southern Communications Surge, Internet and Insurance Sectors Lead Decline

Today, the Hong Kong stock market closed with all three major indices retreating. The Hang Seng Index fell by 1.21%, the Hang Seng Tech Index dropped by 1.11%, and the National Enterprises Index decreased by 0.68%. The overall market experienced a high-level correction, with key sectors such as internet, retail, and insurance generally weakening. Core stocks like Tencent Holdings, Alibaba -W, and AIA Group saw significant declines, reflecting rising risk aversion and weak consumer confidence. Market hotspots were concentrated in small-cap stocks like Southern Communications and Long Resources, which experienced significant fluctuations and active trading. External macro variables and liquidity expectations continue to impact the capital situation of Hong Kong stocks, leading to short-term market sentiment fluctuations

Market Heartbeat·
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Market Heartbeat·
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Hong Kong stock market intraday | The Hang Seng Index fell by 1.07%, leading tech stocks under pressure, small-cap stocks active, Long Resources surged 45.81% intraday

The three major indices of the Hong Kong stock market experienced fluctuations and adjustments during the trading session, with the Hang Seng Index down 1.07% and the Hang Seng Tech Index down 0.83%. The internet content and information, as well as retail sectors, showed weak performance, with leading companies like Tencent Holdings and Alibaba facing significant pressure. The hardware sector exhibited structural differentiation, with Xiaomi Group performing strongly against the trend. Resource stocks such as gold and non-ferrous metals showed notable volatility, and the rotation of funds highlighted structural opportunities, while market confidence continued to be disturbed by macroeconomic data

Market Heartbeat·
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Market Heartbeat·
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Hong Kong Stock Midday Review | The Hang Seng Index fell 1.13% during the session, with Long Resources leading the rise at 35.87%, and YOFC rising 10.17%

On February 6th, the Hong Kong stock market showed a cautious performance by midday, with the three major indices experiencing a phase of high position adjustment. The Hang Seng Index fell by 1.13%, the Hang Seng Tech Index decreased by 0.47%, and the National Enterprises Index dropped by 0.52%. There was a clear divergence among mainstream sectors, with popular leading stocks rotating actively. Changfei Optical Fiber and Long Resources broke through with increases of 10.17% and 35.87%, respectively, with significantly enlarged trading volumes. Funds are chasing structural opportunities, with macro data and policy expectations becoming dominant, while sector fund flows and individual stock movements have become the focus of investors

Market Heartbeat·
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Market Heartbeat·
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