Hong Kong stocks declined Friday after a readout from China's Central Economic Work Conference contained little information about Beijing's stimulus program.

The Hang Seng Index retreated 2.1%, or 425.81 points, to close at 19,971.24. The Hang Seng China Enterprises Index fell 2.4%, or 173.51 points, to end at 7,186.59.

Top officials at the key meeting merely echoed the Politburo's recent statement, promising looser monetary policy, increased deficit spending, and stabilized housing prices in 2025.

However, investors were left wanting, as the readout failed to provide concrete information on the specific stimulus measures the government plans to implement to revitalize growth next year.

"The direction of policies is clear, but the size of stimulus matters, which we probably will find out only after the US announces tariffs on China's exports," Zhang Zhiwei, chief economist at Pinpoint Asset Management, was quoted by South China Morning Post as saying.

The scarce stimulus details caused property counters to tumble. Shares of Longfor (HKG:0960) slumped 7%, while China Overseas Land & Investment (HKG:0688) finished 5% lower.

The sell-off extended to tech stocks as Meituan (HKG:3690) fell nearly 4% and Alibaba (HKG:9988) shed 3%.