Hong Kong stocks surrendered gains, sending the benchmark index back to a six-week low, on concern sticky deflation in mainland China will hamper efforts to recharge the economy. Tencent Holdings snapped a six-day slump.
The Hang Seng Index slipped 0.2 per cent to 19,240.89 on Thursday to a level last seen on November 26. The gauge erased an earlier gain of as much as 0.7 per cent. The Tech Index climbed 0.1 per cent while the Shanghai Composite Index retreated 0.6 per cent.
Sportswear maker Li Ning slumped 5 per cent to HK$15.56 and electric-car maker Li Auto lost 4.4 per cent to HK$87.50 while e-commerce leader Alibaba Group retreated 0.4 per cent to HK$80.60.
Limiting losses, Tencent advanced 1.1 per cent to HK$373.40 to halt a losing streak partly triggered by the US decision to blacklist the WeChat owner as a Chinese military company. Anta Sports rallied 4.5 per cent to HK$78.60 after UOB Kay Hian said its retail sales picked up…
