China tech shares slide on latest volley of internet restrictions

Chinese technology shares fell once again Monday on the latest moves from Beijing to reshape online businesses.
Traders mulled a report that the government intends to break up Ant Group Co.’s Alipay business, a Friday statement calling for better protection of gig economy workers’ rights and latest warning against blocking links to rival services. The Hang Seng Tech Index finished 2.3% lower, with Meituan, Alibaba Group Holding and Tencent Holdings Ltd. the biggest drags on the gauge.

Major platform operators must review working conditions of gig economy workers to ensure their rights in income and labor safety, according to a government statement issued late Friday. That came after a meeting between four government agencies and 10 major platform companies, including Meituan, Alibaba and Tencent.