HK stocks drop, ending three-day winning streak

Hong Kong stocks ended lower on Friday, breaking a three-day winning streak as declines in technology stocks dragged the market down.

The benchmark Hang Seng Index closed at 26,559, down 325 points, or 1.21 percent. The index posted a 3.02 percent loss for the week, or a decline of 827 points, marking its biggest weekly drop since November 2025.

Trading volume totaled HK$247.8 billion, a 21.34 percent drop from the previous day. The China Enterprises Index lost 61 points, or 0.68 percent, to finish at 9,031. The Hang Seng Tech Index ended at 5,346, dropping 1.11 percent.

Major technology stocks faced headwinds, with Alibaba (9988) falling 2.88 percent to HK$155, Tencent (0700) down 1.97 percent to HK$547.50, and Meituan (3690) shedding 2.56 percent to HK$91.40. Kuaishou Technology (1024) dropped 2.4 percent to HK$71.25, and Baidu (9888) fell 2.2 percent to HK$137.80.

The financial sector also faced pressure, with HSBC (0005) falling 2.67 percent to HK$134.80. AIA (1299) slumped 5.54 percent, the biggest drop among blue-chip stocks.

In Chinese mainland, the Shanghai Composite Index fell 10 points, or 0.25 percent, to close at 4,065, while the Shenzhen Component Index dropped 45 points, or 0.33 percent, to finish at 13,906.

Northbound capital inflows from mainland China into Hong Kong stocks totaled HK$14.86 billion, down 40.51 percent from the previous day. This marked the seventh consecutive day of net inflows, bringing the cumulative inflow to HK$63.66 billion.