Hang Seng Slips 3.5% This Week, Notches Two-Week Low

The Hang Seng dipped 265 points or 1.1% to close at 24,508 on Friday, falling for the fourth session and hitting a two-week low.

Risk sentiment weakened after the U.S. imposed steep tariffs on dozens of trading partners, while U.S. futures dropped sharply after hotter June inflation data.

The new tariffs are expected to add to price pressures, fueling concerns about further inflation.

Traders also turned cautious ahead of U.S. jobs data due later today.

For the week, the index sank 3.5%, its first weekly loss in four, amid worries over China’s slowing momentum.

Meantime, U.S.-China trade talks ended with no real progress, leaving tariff decisions to President Trump.

Losses were capped by new data showing Hong Kong’s GDP grew 3.1% yoy in Q2, the fastest pace since Q4 2023, driven by strong exports and domestic demand.

Notable losers included Smoore Hlds. (-5.7%), Prada Spa (-5.5%), Innovent Biologics (-5.3%), and Swire Properties (-3.1%).

Xpeng fell 0.4%, despite strong July deliveries.