Hong Kong stocks erased as a rally in travel-related and electric vehicle (EV) makers overshadowed steep losses in Chinese tech stocks after a sell-off in Temu owner PDD Holdings and its e-commerce rivals.
The Hang Seng Index added 0.4 per cent to 17,874.67 on Tuesday, after earlier losing almost 1 per cent. The Tech Index pared losses to close little changed, while the Shanghai Composite Index declined 0.6 per cent.
Trip.com jumped 9.3 per cent to HK$367.40, while PetroChina added 4.4 per cent to HK$7.17 as traders bet on companies with market-leading positions for stable income. Both reported stronger interim earnings on Monday.
EV maker Xpeng advanced 4.3 per cent to HK$30.30 after its founder and CEO He Xiaopeng bought 2 millions shares on Monday to boost his personal stake. Rival Li Auto advanced 2.1 per cent to HK$83.90 and Geely Auto surged 4.3 per cent to HK$8.57.
