The Hang Seng fell 325 points, or 1.2%, to finish at 26,560 on Friday, reversing strength in the prior three sessions amid broad sector declines. Sentiment was pressured by Wall Street’s third straight sell-off Thursday, highlighting mounting concerns that new AI models could erode software firm profits. In China, equities extended weakness amid caution ahead of January CPI data, with recent gold price volatility seen as a potential driver of consumer inflation. For the week, the index lost 3.0%, its first decline in four weeks, as traders anticipate thinner activity in Hong Kong and mainland markets ahead of the Lunar New Year holiday beginning February 15. Knowledge Atlas Tech (-6.1%), AIA Group (-5.2%), and Minimax Group (-4.9%) were among today’s biggest losers. Meituan slipped 2.2% after agreeing to acquire Dingdong Fresh, the China unit of Dingdong (Cayman), for USD 717 million, though challenges in its core commerce and resource-heavy overseas expansion remain.
