Hong Kong stocks closed lower on Friday as investors engaged in profit-taking following recent gains.

The Hang Seng Index concluded the day’s trading with a decrease of 138.82 points, or 0.7%, settling at 18,879.20.

Market participants attributed the decline to investors cashing in on profits accumulated during the week’s earlier sessions.

Blue-chip stocks experienced broad-based selling pressure, contributing to the overall market weakness.

Analysts anticipate continued volatility in the near term as investors weigh global economic uncertainties and upcoming corporate earnings reports.