HK SFC to launch investor ID regime in March

Hong Kong's Securities and Futures Commission (SFC) has urged brokers in the city to obtain client consent when they deal with their personal data. This, as the markets regulator announced that it will launch its investor identification regime in March. The ID regime means investors that do not provide the necessary personal information will be able to sell existing securities holdings but cannot buy securities on Hong Kong's bourse. The benchmark Hang Seng Index lost 2.2% to 19,463 points after rebounding over 13.2% during the previous two weeks, ahead of a US Federal Reserve meeting this week. The Hang Seng Tech Index fell 4% to 4,192 points. Meituan slid 7% to HKD175.4, while Alibaba fell 3.81% to HKD88.35. Electric vehicle manufacturing companies also experienced decline.