Hong Kong stocks close week with more losses

HONG KONG: Hong Kong shares tumbled Friday as data showed China’s economy grew slower than expected in the second quarter, while tech firms were hit by news that Alibaba executives had spoken to mainland officials following the theft of a police database.

The Hang Seng Index dropped 2.19 percent, or 453.49 points, to 20,297.72.

Hong Kong stocks start with fresh losses

The Shanghai Composite Index sank 1.64 percent, or 53.68 points, to 3,228.06, while the Shenzhen Composite Index on China’s second exchange lost 1.49 percent, or 32.70 points, to 2,159.99.

Among tech firms, Alibaba ended the day six percent lower, while Tencent and JD.com each shed three percent.