Hong Kong stocks reversed losses in the morning session to cap off the week with gains, as China stood firm in the face of its tariff war against the US.
The Hang Seng Index rose 1.13%, or 232.91 points, to end Friday's session at 20,914.69. The Hang Seng China Enterprises Index climbed 1.74%, or 133.13 points, to 7,801.51.
On Friday, Beijing raised its tariffs on US goods to 125%, countering Washington's overnight move to hike duties on Chinese imports to 145%.
This latest tit-for-tat action underscores the deepening rift between the two economic superpowers, threatening to disrupt global supply chains and destabilize international trade.
Mainland buying of Hong Kong stocks added to the day's gains. South China Morning Post reported that mainland investors bought over HK$7 billion of Hong Kong-listed shares on Friday, bringing the total to HK$77.6 billion this week.
In corporate news, shares of Prada (HKG:1913) rose over 2% after the luxury brand announced that it would acquire rival Versace from Capri Holdings for an enterprise value of $1.375 billion.
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