Shares in Hong Kong fell 144 points or 0.6% to 24,936 in early trade Friday, snapping a four-day winning streak amid broad-based losses. Caution prevailed ahead of China’s July CPI and PPI data due Saturday, with consumer prices expected to decline slightly and producer deflation likely to persist amid ongoing trade risks. Locally, Hong Kong’s forex reserves dropped to a 3-month low of USD 425.4 billion in July. Semiconductor Manufacturing plunged 4.7% after missing Q2 profit estimates, while MGM China (-4.3%), Kingdee Intl. Software (-4.2%), SITC Intl. (-2.5%), and Mixue Group (-2.4%) also posted notable losses. Still, the Hang Seng is on track for a weekly gain of around 1.8%, recovering from a 3.5% slide last week. Sentiment was lifted earlier in the week by U.S. President Trump’s comment that a trade deal with China was near, with plans to meet President Xi before year-end if progress continues. Also supporting optimism, China’s July trade data topped expectations.