China Tech Stocks Drop Amid New STAR Market Reforms

China stocks edged lower on Wednesday, particularly the tech-focused STAR50 index, following the CSRC's announcement of new measures to reform the technology board. While the Shanghai Composite and blue-chip indices dipped, Hong Kong stocks gained as the U.S. dollar weakened. Regional markets showed mixed results.

China stocks inched lower on Wednesday, with the tech-focused STAR50 index leading losses, after the securities regulator said it will issue fresh measures to reform the technology board.

Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), told a conference in Shanghai the watchdog will publish eight new measures to deepen STAR market reform, with a focus on promoting hard-core technologies. Hong Kong stocks rose broadly along with its Asian peers as the U.S. dollar rally lost steam.

At the midday break, the Shanghai Composite index was down 0.34% at 3,020.03 points. ** China's blue-chip CSI300 index was down 0.42%, with its financial sector sub-index higher by 0.27%, the consumer staples sector down 0.97%, the real estate index 1% lower and the healthcare sub-index down 0.53%. ** Chinese H-shares listed in Hong Kong rose 2.27% to 6,512.49, while the Hang Seng Index was up 1.95% at 18,264.51. ** The smaller Shenzhen index was down 0.63%, the start-up board ChiNext Composite index was weaker by 1.12% and Shanghai's tech-focused STAR50 index was down 1.03%​. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.88% while Japan's Nikkei index was down 0.02%.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)