HK Stocks Tumble As Focus Shifts To G7

Hong Kong stocks tumbled on Friday after a six-day winning streak as investors cashed out ahead of a much-anticipated Group of Seven summit this weekend.

The Hang Seng Index fell 1.8 percent, to 30,958.

On the mainland, the Shanghai Composite Index lost 1.4 percent, to 3,067 and the Shenzhen Composite Index eased 0.9 percent, to 1,751.

Most Asian markets retreated at the end of a broadly positive week, with traders turning their attention to a Group of Seven summit in Quebec, Canada that could see world leaders clash with Donald Trump over his latest tariff provocations.

Japan's Nikkei ended 0.6 percent down with dealers unmoved by news confirming Japan's economy shrank for the first time in two years in January-March.

Sydney lost 0.2 percent, Singapore was down one percent and Seoul dropped 0.8 percent. Taipei, Manila and Jakarta were also sharply lower. (AFP)