China’s new anti-monopoly rules will have limited market impact for now, says analyst

China announced new anti-monopoly rules over the weekend — but that’s not likely to have much impact on the market for now, according to one market observer.

“The new regulation is still, you know, slightly sketchy in details,” Hao Hong, managing director and head of research at Bank of Communications International, told CNBC’s “Street Signs Asia” on Monday.

China’s State Administration for Market Regulation (SAMR) has tightened restrictions on China’s internet giants such as Alibaba and Meituan, and introduced new guidelines on Sunday to curb monopolistic behavior. The new rules formalize a draft that was released months earlier.

Stocks of China’s internet giants in Hong Kong were mixed by the Monday market close in the city: Tencent was up 0.48% while Meituan jumped 1.25%. JD.com declined 0.6% and Alibaba shed 0.62%.

Read More at https://www.cnbc.com/2021/02/08/chinas-new-anti-monopoly-rules-to-have-limited-impact-for-now-analyst.html