Chinese Investors Dump Tencent, Xiaomi Shares as Rally Fizzles

Chinese investors ditched some of the biggest tech stocks in Hong Kong last month, testing the resilience of their market-beating rally this year.

Mainland investors offloaded a combined HK$46.4 billion ($5.9 billion) worth of Tencent Holdings Ltd., Xiaomi Corp. and Alibaba Group Holding Ltd. shares through the trading links with the financial hub in June, according to Bloomberg calculations based on exchange data. They were also net sellers of the three stocks in May.