Hong Kong stocks fell by 51 points or 0.2% to 24,324 in early trading on Friday, breaking a three-day winning streak amid losses mainly from financials.
Markets pulled back from their highest in over three years following an overnight slump on Wall Street, due to uncertainty over US trade policy. This was particularly driven by President Donald Trump's decision to delay levies on Mexican and Canadian goods covered by the North American trade agreement.
Also, caution grew ahead of key data from China, including January-February trade data later today, alongside CPI and PPI readings over the weekend. Some early laggards included JD Logistics (-11.1%), JD Health Intl. (-11.0%), and Miniso (-3.7%).
Still, the Hang Seng is set to log a strong weekly gain, up by 6.0% so far, after a decline in the prior period, propelled by AI optimism and China's 2025 economic plans targeting a 5% GDP growth, increasing demand through expanded fiscal stimulus, and addressing the property market downturn.
Source: Trading Economics
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