The Hang Seng fell 152 points or 0.65% to close at 23,427 on Friday, snapping two-day gains amid broad-based losses. The index lost 1.1% for the week, marking its third straight weekly fall as investors fled riskier assets over mounting concerns that new U.S. tariffs could hurt global growth.
President Trump plans to introduce a 25% tariff on auto imports and new reciprocal tariffs on key trading partners from April 2. Caution also prevailed ahead of U.S. PCE inflation data later today and China's March PMI figures next week.
However, declines were cushioned by Chinese President Xi Jinping's fresh pledge to improve access and regain market confidence during a meeting with global business leaders in Beijing.
Meantime, Trump signaled a willingness to ease tariffs on China to enable a deal for ByteDance to sell TikTok. Notable laggards included Semicon Manufacturing (-4.5%), Lenovo Group (-4.2%), and KE Hlds. (-3.0%), while auto stocks also fell, led by Nio (-7.2%) and Li Auto (-3.4%).
Source: Trading Economics
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