Hang Seng closes lower for the week

Business | 14 May 2021 4:52 pm

Hong Kong stocks, which climbed on Friday tracking gains in other Asian markets, posted weekly drops on tech sell-off amid worries over China's anti-monopoly probes, Reuters reports.

The Hang Seng index gained by 1.1 percent at 28,027.57, while the China Enterprises Index advanced by 0.6 percent at 10,404.95 points.

Asian shares gained ground on Friday, as U.S. Fed officials allayed inflation fears.

Though for the week, HSI declined 2.1%, while HSCE shed 2.7 percent.

The Hang Seng Tech Index slipped by 0.5 percent, having lost 4.9 percent for the week and dropped by 31 percent from a record high hit on February 18, as heavyweights continued to be under pressure on worries over China's ongoing anti-trust crackdown.

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