SYDNEY, Nov 30 (Reuters) - Hong Kong stocks fell to a one-year low on Tuesday as regulatory concerns hanging over the tech sector and the arrest of gambling boss Alvin Chau kept investors from joining a global bounce out of COVID-19 worries.
Mainland shares steadied. ** At midday, the Hang Seng Index was down 1.09% at 23,591.68, its lowest since September 2020. It has lost more than 7% for the month, the biggest such fall since July.

** "There is no positive follow through from the U.S.," said Kelvin Wong, an analyst at brokerage CMC Markets in Singapore, citing crackdown fears in tech and gaming as major concerns.

** Traders said last week's news of pressure on ride-hailing firm Didi Global to de-list in New York was driving fear of more regulatory heat in the tech space.

Speculation that NetEase could be a target dragged shares 7% lower.

** Alibaba's HK shares fell 2.7% to their lowest since listing. Fellow online giant Tencent fell 1.6% and food delivery company Meituan extended Monday's tumble by another 3% to hit an almost eight-week low.

** Macau gambling firm Suncity Group Holdings Ltd's shares almost halved upon resuming trade after CEO Alvin Chau was arrested on Sunday.

Investors also feared that the gaming sector https://hajjnet.com/ might be drifting into the authorities' crosshairs.

** Casino operators Sands China, Galaxy Entertainment and Wynn Macau also extended losses. This year, HK-listed gambling stocks have lost 40%.

** On the mainland, the Shanghai Composite index was up 0.23% at 3,571.01 points, rangebound but helped by an unexpected pickup in factory activity.

For the month, it has declined 0.6%.

** China's blue-chip CSI300 index was down 0.25%, dragged lower by losses in consumer staples, down 1.77% and the healthcare subindex, down 1.24%. It has fallen 1.4% in November.

** China's factory activity grew for the first time in three months as the crippling surge in raw material prices and power rationing eased.

** The yuan was quoted at 6.3717 per U.S.

dollar, 0.25% firmer than the previous close of 6.3876, also helped by the better-than-expected manufacturing data. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.10% while Japan's Nikkei index was up 0.65%. ** Markets are awaiting further details on the virulence of the Omicron coronavirus variant, while Hong Kong expanded a ban on entry for non-residents from several countries and Australia reviews containment steps.

(Reporting by Tom Westbrook; Editing by Devika Syamnath)