Hong Kong's Hang Seng Index closes 0.05 pct higher

Hong Kong's stock market ended higher Wednesday with the benchmark Hang Seng Index up 0.05 percent to close at 26,847.32 points.

The Hang Seng China Enterprises Index edged down 0.05 percent to end at 9,048.38 points, while the Hang Seng Tech Index fell 1.84 percent to end at 5,366.44 points.

Spanish Prime Minister Pedro Sanchez said Tuesday that his government will introduce a ban on social media use for people under the age of 16, while tightening regulations on platforms that spread illegal or hateful content or use algorithms to amplify such content.

Speaking at the World Governments Summit in Dubai, the United Arab Emirates, Sanchez said the measures aim to protect minors from growing risks associated with digital platforms, which he described as increasingly unsafe for young users.

The Spanish government plans to submit net legislation next week to strengthen the legal obligations of social media companies, and could include liability for senior executives who fail to remove illegal content, Sanchez said.

He urged technology companies to bear greater social responsibility, saying that the government could no longer ignore abuses on social media platforms.

Spain will also develop tools to monitor the spread of hateful and polarizing content online to improve oversight and accountability, he added.

Explaining the proposed ban on under-16s, Sanchez said children were increasingly exposed to online risks such as addiction, abuse, manipulation and violent or explicit content. The government will introduce effective mechanisms to enforce age restrictions, he said.