The Hang Seng Index declined about 0.9% to 25,160 on Friday, extending its losing streak to a fourth straight session and marking its lowest level since July 24. Sentiment remained weak as technology shares stayed under pressure and investors remained cautious amid ongoing geopolitical tensions.
Among major tech names, Meituan slipped 1.4%, while Alibaba and Tencent lost 1.1% and 2.9%, respectively. Lenovo dropped 4.2%, giving back gains after closing at a record high in the previous session.
In the broader market, JD.com tumbled 6.5% at the open after the e-commerce giant reported a decline in interim profit, making it the worst-performing blue chip and further weighing on the technology sector.
On the upside, Semiconductor Manufacturing International Corp. (SMIC) climbed 4.7% after posting a sharp rise in second-quarter profit, making it the strongest-performing Hang Seng constituent at the open. Shanghai Iluvatar also advanced, rising 3.6%.
On the macroeconomic front, Hong Kong’s annual GDP growth rate for the second quarter is due later today. Consensus forecasts point to an expansion of 4.3%, down from 5.9% in the previous quarter.
