Hong Kong stocks fell 344 points, or 1.3%, to 25,540 in early Friday deals, down for the second day as all sectors retreated. Sentiment soured after mainland shares fell and President Trump confirmed that trade tensions with China remain elevated. Wall Street also ended lower overnight, weighed by regional bank weakness and an ongoing U.S. government shutdown, now in its third week, which has delayed key data and sparked concerns it could stretch into Nov. Traders remain cautious ahead of China’s fourth plenum (Oct. 20–23), where the 2026–2030 five-year plan will be unveiled. Markets are also bracing for upcoming data in China: September industrial output, retail sales, Q3 GDP, and a monthly fixing on LPR. Tech stocks led declines—SMIC (-4.2%), Kuaishou Tech (-2.4%), Meituan (-2.3%)—while consumer and financial names slipped amid persistent deflation risks after weaker-than-expected CPI and PPI. For the week, the city’s markets are on track for a second straight loss, down roughly 3%.
