FX.co ★ Hang Seng Retreats 1.5% Weekly

On Friday, the Hang Seng Index declined by 154 points, or 0.6%, closing at 23,916, marking a second consecutive session of losses due to widespread sector downturns. Over the week, the index fell by 1.5%, undoing the gains from the previous week as investors adopted a cautious stance ahead of the tariff deadline set by U.S. President Trump for July 9. Further contributing to the downturn, China's Ministry of Commerce concluded its investigation into EU brandy, implementing tariffs of up to 34.9% for five years starting July 5. Market observers are also anticipating crucial Chinese economic data scheduled for release next week, including June's Consumer Price Index (CPI) and Producer Price Index (PPI), amid continuing deflationary concerns. The U.S. markets were closed for Independence Day following record highs in the S&P 500 and Nasdaq on Thursday, driven by robust employment data. Losses in Hong Kong were counterbalanced by optimism regarding potential stimulus measures at China's upcoming Politburo meeting and announcements that the U.S. would relax export restrictions on chip design software to China. Notable decliners included AIA Group, which fell by 4.6%, Techtronic Industries at 2.9%, and China Overseas Land down by 2.3%.