China, HK shares log weekly losses on geopolitics, muted policy signals

SHANGHAI: China and Hong Kong stocks ended the week lower, despite Friday’s gains, as geopolitical risks weighed on sentiment and policy cues from the annual parliamentary meeting offered few surprises. China’s blue-chip CSI300 Index closed up 0.3 percent on Friday, while the Shanghai Composite Index gained 0.4 percent. Hong Kong benchmark Hang Seng was up 1.7 percent.

For the week, the CSI300 Index was down 1.1 percent, while the Hang Seng Index was down 3.3 percent. Worries that a wider Middle East conflict could trigger an energy shock, lift inflation, and delay rate cuts pressured Asian markets this week. Consumer staples shares led gains onshore, up 2.5 percent. Oil & gas stocks fell 1.9 percent, while non-ferrous shares were down 2.1 percent.

Hang Seng Tech Index snapped a four-day losing streak, up 3.2 percent, after JD.com signalled it would scale back investment in its food-delivery business. China on Thursday unveiled its 2026 economic growth target at 4.5 percent-5 percent at its annual parliamentary meeting, with most other goals broadly in line with market expectations.