Tencent Holdings and Alibaba Group Holding were among the biggest drags on the gauge. The Hong Kong equity benchmark is also close to entering correction territory after a 2.3% decline Thursday.
MSCI Inc.’s key gauge for Chinese stocks is on course for a technical correction as traders struggle to find catalysts ahead of a July meeting of the nation’s top leaders.
The MSCI China Index dropped as much as 2% on Thursday, taking declines from a May 20 high to about 10% intraday.
