Shares of Chinese short video platform Kuaishou Technology (1024.HK) fell sharply on Tuesday, hitting HK$62.70 ($8.06)—their lowest level since November 21—after the company suffered a cyberattack that disrupted its livestreaming service.

Stock Market Impact

• The decline of up to 6% marks Kuaishou’s largest one-day percentage drop since October 14.
• Kuaishou was the top percentage decliner on the Hang Seng Tech Index (HSTECH), which fell 0.5% on Tuesday.

Details of the Cyberattack

The attack occurred around 10 p.m. (1400 GMT) Monday, targeting Kuaishou’s livestreaming platform—the closest rival to Douyin, the Chinese version of TikTok.

• The company initiated its emergency plan immediately.
• Livestreaming services have gradually resumed, though other app functions remain disrupted.
• Kuaishou has reported the incident to police and relevant authorities and is exploring legal remedies.

User Exposure and Reactions

Chinese media and social media reports indicate that users were exposed to vulgar, violent, and explicit content, which many described as “unprecedented”.

The incident raises concerns over cybersecurity and content moderation for live streaming platforms in China, particularly for apps with massive user bases.