FX.co ★ Shares in Hong Kong Extend Losses

Hong Kong stocks experienced a decline of 283 points, or 1.2%, to settle at 23,929 in morning trading on Friday, marking the second consecutive session of losses as all sectors saw a downturn. Investor sentiment stayed subdued following declines on Wall Street the previous night, as traders cautiously evaluated the latest U.S. economic data amid apprehensions concerning tariffs imposed by President Trump. Additionally, uncertainty surrounding the timing and magnitude of Beijing's newest initiatives to bolster consumption and stabilize property and equity markets led investors to shy away from riskier assets. Early notable decliners included CK Asset Holdings, which fell by 5.7%, KE Holdings by 3.7%, Innovent Biologics by 3.6%, and Semiconductor Manufacturing by 3.0%. For the week, the market appears poised for a lackluster ending, following China's decision to maintain current interest rates. In Hong Kong, the HKMA also held its base rate steady but cautioned that borrowing costs might remain high in the city for a while, given the uncertainty surrounding the extent and pace of any future interest rate reductions in the U.S.