15.05.202601:57:58UTC+00Hong Kong Stocks Fall on Trade Caution

The Hang Seng Index declined 205 points, or 0.8%, to 26,180 on Friday, pulling back after finishing flat in the previous session, as investors turned cautious despite record highs on Wall Street driven by the AI rally and robust US corporate earnings. Market sentiment weakened as participants awaited concrete outcomes from the ongoing Trump–Xi summit in Beijing, with traders hesitant to take bold positions despite optimism over US–China relations. At the same time, oil prices were poised for a weekly gain amid persistent tensions around the Strait of Hormuz, stoking concerns about potential supply disruptions, rising inflationary pressures, and risks to global growth. Broad-based losses in financial and technology stocks weighed on the index. Notable decliners included Mao Geping Cosmetics (-5.5%), CARsgen Therapeutics (-6.5%), Tencent Holdings (-0.3%), Kuaishou Technology (-0.2%), and Laopu Gold (-1.0%). In contrast, Semiconductor Manufacturing International Corporation advanced 6.2%.