Shares of Alibaba, Tencent, Meituan take a hammering in Hong Kong as Beijing clips Ant’s wings, cracks down on monopolies

• The Hang Seng Index declined 0.3 per cent on Monday, as investors watched for signals from Beijing about moves to further rein in the tech sector, and Covid-19 cases flared
• E-commerce giant Alibaba Group plunged 8 per cent even as it increased share buy-backs, Meituan was down 6.9 per cent and Tencent dived 6.7 per cent