Hong Kong stocks ended lower to close the week in the red as profit-taking took center stage amid renewed tariff fears.
The Hang Seng Index slid 0.7%, or 152.20 points, at 23,426.60. The Hang Seng China Enterprises index also fell 0.8%, or 71.17 points, at 8,606.51.
Sentiment waned after the new 25% car levy from the US left investors bracing for more tariff turmoil on April 2.
Auto stocks, which closed mixed on Thursday, dropped as investors were bearish on carmakers over the potential impact of the new levy.
BYD (HKG:1211) and Dongfeng Motor Group (HKG:0489), which had seen gains on Thursday, closed in red on Friday. Zhejiang Leapmotor Technology (HKG:9863) and BAIC Motor (HKG:1958) also each ended 1% lower.
In corporate news, NIO (HKG:9866, SGX:NIO) plunged 7% after it announced a HK$4.03 billion equity placement.
The firm is offering 136.8 million Class A ordinary shares at HK$29.46 apiece and aiming to use proceeds to fund research, development, and corporate needs.
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