Hang Seng extends losses to fourth session near 25,160
The Hang Seng Index fell about 0.9% to 25,160 on Friday for its fourth consecutive loss and its lowest level since July 24, with tech and Chinese e-commerce stocks under pressure.
The Hang Seng Index fell about 0.9% to 25,160 on Friday, marking its fourth consecutive session of losses and hitting its lowest level since July 24, as technology stocks remained under pressure and investors stayed cautious amid lingering geopolitical uncertainty.
Meituan fell 1.4%, while Alibaba and Tencent dropped 1.1% and 2.9%, respectively.
Lenovo retreated 4.2% after reaching an all-time high in the previous session.
In the broader Hong Kong market, JD.com plunged 6.5% at the open after the e-commerce giant reported a decline in interim profit, making it the worst-performing blue-chip stock.
On the upside, Semiconductor Manufacturing International Corp. rose 4.7% after reporting a sharp increase in second-quarter profit, making it the strongest-performing Hang Seng constituent at the open, while Shanghai Iluvatar rose 3.6%.
On the data front, Hong Kong’s annual GDP growth rate for Q2 is due later in the day, with expectations of 4.3%, easing from 5.9% in the previous quarter.