The Hang Seng dropped 108 points or 0.5% to end at 23,345 on Friday, down for the second day amid broad-based losses across all sectors. Investors were unsure how policies would evolve when the 90-day trade war truce between Washington and Beijing ends in July.
A climb in US futures failed to lift sentiment as traders were on edge ahead of China's key April data next week, including industrial output and retail sales.
Meanwhile, the PBoC is set to review its benchmark lending rates, which have stayed at record lows in recent months as the economy faces domestic and external pressures.
Still, the Hang Seng rose about 2% for the week—its fifth straight weekly gain and the longest run since February—boosted by upgraded growth forecasts for China from some global investment banks, on bets of continued front-loading of exports to the U.S. Alibaba slid 3.9% after missing revenue estimates, while Hang Seng Bank (-3.3%), Swire Pacific (-3.2%), and Meituan (-3.1%) also posted steep declines.
Source: Trading Economics
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