The suspension of Ant Group’s jumbo IPO in November caused deposits in Hong Kong’s banking system to fall sharply during the month and led to a slow down of hot money inflow into the city, Hong Kong Monetary Authority data showed on Thursday.Ant Group, which operates the popular payments app Alipay, refunded a record HK$1.3 trillion (US$167.7 billion) to 1.55 million retail investors in Hong Kong who had subscribed to its initial public offering after the deal was suspended less than 48 hours…
