China stocks fell on Friday, set for the steepest weekly decline in 10 weeks, as investor caution over trade uncertainties and profit-taking in artificial intelligence shares dampened sentiment ahead of a key leadership gathering next week. China’s blue-chip CSI300 Index dropped 1.3 per cent, while the Shanghai Composite Index lost 1 per cent. Hong Kong benchmark Hang Seng was down 1.6 per cent.
The CSI300 index has shed 1.2 per cent so far this week, on track for its biggest weekly loss since late-July, while the Hang Seng Index has lost 3 per cent, set to extend losses from the previous week, if the current trend persists.
“Investor sentiment has largely shifted as the market turns volatile, with most in wait-and-see mode amid political ups and downs,” UBS analysts said in a client note.
“There’s more downside risk and higher uncertainty than a week ago. Until the year-end, clients will continue to like sectors such as technology,…
