Although Hong Kong's stock markets were still in retreat on Friday, its performance was already better than that of the previous week, said China Global Television Network (CGTN) analyst Timothy Pope.
The Hang Seng Index downed 0.98 percent to close at 24,963.23 points. Meanwhile, the Hang Seng China Enterprises Index dropped 0.98 percent to end at 8,271.06 points, and the Hang Seng Tech Index dropped 1.47 percent to end at 4,629.51 points.
According to Pope, financials stand out as one of the rare bright spots for Hong Kong stocks.
"The Hang Seng ended about one percent lower today, although like the Chinese mainland markets, it still recovered some ground from last week's pretty bruising finish. Financials were among the few pockets of strength in Hong Kong on Friday. But we also had Chinese automaker Geely up almost 3 percent following reports that it had reached a deal allowing it to manufacture electric SUVs at a Ford factory in Spain. And battery giant CATL slipped 0.7 percent ahead of the release of its latest earnings, which are expected at any moment now," he said.
Hong Kong stocks recover some ground from last week’s plummet: analyst
