China Stocks Shine Despite Hong Kong Slump

China stocks ended the week with a seven-session winning streak, while Hong Kong shares marked their biggest weekly loss in nearly two months. China's blue-chip CSI300 Index and the Shanghai Composite Index posted gains, with tech shares leading. However, the lack of policy support for the property sector disappointed some investors.

China stocks ended the week on a high note, registering a seven-session winning streak following a key leadership meeting that concluded on Thursday. Meanwhile, Hong Kong shares suffered their biggest weekly loss in nearly two months.

China's blue-chip CSI300 Index closed up 0.5% on Friday, marking gains for a seventh consecutive session, while the Shanghai Composite Index rose by 0.2%. In stark contrast, Hong Kong's Hang Seng benchmark dropped 2.1%, registering a notable decline.

Chinese officials acknowledged the comprehensive list of economic goals outlined at the recent Communist Party meeting, noting that many complex challenges lie ahead in policy implementation. A more detailed policy document is expected to be released in the upcoming days.

Analysts at UBS noted market anticipation for a detailed final document next week and the subsequent Politburo meeting for specific policy measures. For the week, the CSI300 index rose 1.9%, while the Hang Seng index fell 4.8%, marking its most significant weekly loss since late May.

Tech shares spearheaded gains in China, with the CSI Info Tech index up 1.4%. However, the absence of new policy support for the struggling property sector dampened investor sentiment, leading to a decline in developers' shares in both China and Hong Kong by 2% and 4.2%, respectively. Additionally, tech giants traded in Hong Kong saw a 2.1% drop.

(With inputs from agencies.)