The Hang Seng fell 143 points or 0.6% to close at 23,892 on Friday, extending losses for a second session as Wall Street futures slumped and global markets turned red following Israel’s military strike on Iran earlier in the day. The escalation in Middle East tensions added a fresh layer of uncertainty to already fragile global markets, which remain under pressure from President Trump’s aggressive and unpredictable trade policies.
The index moved away from a near 3-month top, as most sectors fell. The tech index slid 1.7%, led by sharp losses in Horizon Robotics (-4.3%), Trip.com (-3.2%), SMIC (-2.3%), and Meituan (-1.8%). Still, the Hang Seng managed to gain 0.4% for the week, marking its second straight weekly gain, supported by signs of improving China-U.S. relations after a more constructive tone in trade talks earlier this week. Meanwhile, Beijing encouraged Hong Kong-listed mainland firms to issue shares in Shenzhen as part of broader reforms to deepen capital market ties.
