China stocks drop, led by semiconductor shares; HK market close

SHANGHAI, Dec 26 (Reuters) – China stocks declined on Tuesday, dragged down by semiconductor shares, while gaming stocks stabilised after a slew of companies announced share buyback plans. The Hong Kong market is closed for a holiday. ** China’s blue-chip CSI300 Index and the Shanghai Composite Index both dropped 0.7% by the lunch break. ** Semiconductor and information technology shares led the decline, both down 2.1%. ** Hangzhou Changchuan Techonology Co. and Sai Microelectronics Inc. lost 5.8% and 4.5%, respectively. ** At least eight China-listed gaming companies, including Perfect World Co, have announced share buyback plans worth as much as 780 million yuan ($109.17 million) in total to boost investor confidence and stabilise share prices across an industry shaken by…