The Hang Seng fell 114 points, or 0.5%, to close at 23,793 on Friday, snapping a three-day winning streak and retreating from a two-week high reached the previous day, primarily dragged down by losses in the tech sector. Traders remained cautious amid continued uncertainty over US-China trade talks, after a recent call between Washington and Beijing offered little clarity on easing tensions.
The Hang Seng also tracked a downbeat session on Wall Street overnight, pressured by a dispute between Donald Trump and Elon Musk, along with renewed concerns over US-China trade relations. Additionally, some investors stayed on the sidelines ahead of key Chinese economic data, including CPI, PPI, and trade figures due next Monday.
Among the top decliners were Trip.com Group (-3.3%), Alibaba Health IT (-2.8%), Longfor Group Holdings (-2.8%), and BYD (-2.2%). Despite Friday's loss, the index posted a weekly gain of 0.8%, supported by lingering hopes of easing trade tensions.
Source : Trading Economics
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