Hong Kong stocks end 7-day rally as investors resort to profit-taking
Despite the setback, the Hang Seng Index is set for its best monthly performance since September 2025
Investors were also cautious ahead of an announcement on the US Federal Reserve’s next chair.
The Hang Seng Index fell 2.1 per cent to 27,387.11 at the close, pulling back from a multi-year high on Thursday. The benchmark climbed 6.8 per cent this month, its strongest performance since September 2025, when it finished 7.1 per cent higher. The Hang Seng Tech Index dropped 2.1 per cent. On the mainland, both the CSI 300 Index and the Shanghai Composite Index lost 1 per cent.
Shares of metals producers fell amid a cooling down of the ongoing gold mania, with spot gold prices dropping nearly 5 per cent to US$5,150 per ounce. Gold miner Zijin Mining Group slumped 9.2 per cent to HK$41.90 and aluminium producer China Hongqiao Group lost 9.3 per cent to HK$36.12. Short-video platform Kuaishou Technology declined 3.4 per cent to HK$80.15 and e-commerce major Alibaba Group Holding retreated 2.4 per cent to HK$169.20.
Local property developer Sun Hung Kai Properties gained 0.9 per cent to HK$125.70, and peer Hang Lung Properties rose 1 per cent to HK$9.44.