The Hang Seng Index fell 251 points, or 1.0%, to close at 25,466 on Friday, extending its decline for a third consecutive session as selling pressure broadened across sectors. The benchmark also notched a third straight weekly loss, slipping 1.1%. Market sentiment weakened alongside a notable drop in U.S. stock futures, as the conflict in the Middle East approached its two-week mark with no sign of resolution. Tensions intensified after Tehran threatened to disrupt shipping in the Strait of Hormuz, keeping crude oil prices elevated and stoking inflation concerns.
On the mainland, equities also softened as investors awaited China’s February credit data and key activity indicators, including retail sales, for clearer signals on the strength of domestic demand. Downside pressure on the Hang Seng was partially offset by reports that Scott Bessent will meet He Lifeng in France on March 15–16, ahead of a planned Trump–Xi summit in Beijing in late March.
Notable decliners included Zijin Gold International (-8.0%), Minimax Group (-6.6%), MTR Corp. (-6.6%), Knowledge Atlas (-4.1%), and AIA Group (-3.1%).
