HK-listed Tencent falls as broker trims TP; Meituan, Koolearn plunge

** Shares of Tencent Holdings Ltd fall 5.5% to HK$465, the worst since July 27, and on course to snap two consecutive sessions of gains

** Stock is the most actively traded by turnover in early afternoon trade; the ninth-biggest percentage decliner in the Hang Seng Index

** Brokerage CCB International maintains "outperform" rating on stock but cuts TP to HK$600 from HK$735, saying it trims Tencent's earnings forecast to reflect slower sales growth, higher operating expenses

** Says recent Chinese government policies on antitrust, internet security and education have had a limited impact on Tencent's fundamentals

** "We attribute the sharp correction in the share price to policy uncertainty and related concerns about the long-term profitability at the leading Chinese internet platforms," CCB wrote in a research note

** Technology stocks have been under pressure amid market jitters over Chinese regulatory crackdowns on high-growth sectors, including online platforms and private tutoring

** Food delivery giant Meituan drops 9.7%; the biggest percentage decliner in the Hang Seng Index

** Alibaba's Hong Kong shares fall 5%, Koolearn Technology dives 12% - the biggest percentage decliner in the Hang Seng Tech Index

** The Hang Seng Tech Index drops 4.1% and the benchmark index falls 2%