Hong Kong Stocks Drop As Political Rows Brew

Hong Kong stocks were weighed down by the political developments as investors keep a close eye on developments on Brexit and US-China trade tensions.

The Hang Seng Index fell 0.5 percent, to 26,667.

On the mainland, the Shanghai Composite Index added 0.5 percent, to 2,954 and the Shenzhen Composite Index rose almost 1 percent, to 1,632.

Tokyo ended up 0.2 percent at a one-year high, with Sydney gaining 0.7 percent, Singapore adding 0.5 percent and Seoul 0.1 percent higher.

But there were losses in Taipei, Wellington, Manila, Mumbai, Bangkok and Jakarta.

Despite modest gains on Wall Street, investors were gripped by uncertainties over Britain's unruly process towards leaving the European Union and the Sino-US trade dispute.

In Hong Kong, Ping An Insurance slumped almost 4 percent following disappointing quarterly results. Heavyweight Tencent continued to come under pressure, shedding 0.8 percent.

But e-commerce firm Meituan bucked the trend and climbed 2.2 percent. Pharmaceuticals were also favoured, with CSPC Pharmaceutical jumping more than 5 percent and Sino Biopharmaceutical climbing nearly 3.5 percent.

On the currency market, the pound extended losses due to renewed Brexit uncertainty. It was trading at HK$10.06 around 6pm on Friday.