Hong Kong stocks lost 283 points or 1.2 to 23,929 in Friday morning trade, marking their second straight session of decline as all sectors retreated. Sentiment remained weak following a drop on Wall Street overnight, as traders cautiously digested the latest U.S. economic data amid concerns over President Trump's tariffs.
Meanwhile, uncertainty over the timing and scale of Beijing's latest plan to boost consumption prompted investors to move away from riskier assets. Among the early laggards were CK Asset Holdings (-5.7%), KE Holdings (-3.7%), Innovent Biologics (-3.6%), and Semiconductor Manufacturing (-3.0%).
For the week, markets are on track for a subdued close after China kept interest rates unchanged. Locally, the HKMA also maintained its base rate at 4.75%, warning that borrowing costs could remain elevated for some time, with the extent and pace of future U.S. interest rate cuts still highly uncertain.
Source: Trading Economics
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