The Hang Seng Index in Hong Kong fell 2% as tech stocks declined, and mainland China markets dropped more than 1% after the country’s GDP missed expectations.

In Japan, the Nikkei 225 gained 145.08 points, or 0.5%, to 26,788.47.

Shares of Uniqlo-owner Fast Retailing jumped 8.7% after the company posted a record quarterly profit after the close on Thursday, Reuters reported.

The Japanese yen was at 138.83 per U.S. dollar, after weakening beyond 139 against the greenback on Thursday.

In Hong Kong, the Hang Seng index hurtled lower 453.49 points, or 2.2%, to 20,297.72.

Alibaba’s U.S.-listed shares dropped more than 4% overnight after the Wall Street Journal reported that the company’s executives were summoned by authorities investigating theft of police data. The tech giant’s shares in Hong Kong fell 6% by the end of the session.

Index heavyweights Tencent slipped 3%, and Meituan fell 1.8%.

Bank and real estate stocks were hit Thursday as homebuyers boycott mortgage payments for unfinished property projects.

The South China Morning Post reported late Thursday that the boycott has grown, with buyers of more than 230 properties in 86 cities not making mortgage payments.

China Overseas Land and Investment shares lost 3.9% and Longfor’s stock dropped 6.2% on Friday.

The Australian dollar was at $0.6737.


In Shanghai, the CSI 300 slid 73.55 points, or 1.7%, to 4,248.53.

China’s Gross Domestic Product grew 0.4% in the second quarter, compared with 4.8% in the first quarter and the 1% analysts in a Reuters poll predicted.

Retail sales topped expectations, however, rising 3.1% in June. A Reuters poll of analysts expected no growth compared with a year ago.

The second-quarter report is China’s weakest GDP print since the first quarter of 2020 when the Covid pandemic first hit.

In other markets

In Taiwan, the Taiex jumped 112.10 points, or 0.8%, to 14,550.62.

In Singapore, the Straits Times Index nicked up 8.52 points, or 0.3%, to 3,090.15

In Korea, the Kospi regained 8.66 points, or 0.4%, to 2,330.98.

In Australia, the ASX 200 stumbled 45.05 points, or 0.7%, to 6,605.57

In New Zealand, the NZX dropped 65.36 points, or 0.6%, to 11,122.61

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