The benchmark Hang Seng Index lost 148 points, or 0.6 percent, to end at 24,805 on turnover of HK$228.43 billion, putting the benchmark down 3.3 percent for the week.
The tech index dropped nine points, or 0.2 percent, to 4,320 while the China enterprises index fell 28 points, or 0.3 percent, to 8,246.
On the mainland, the Shanghai Composite Index closed down 46 points, or 1.18 percent, at 3,888 on turnover of 958.18 billion yuan.
The blue-chip CSI300 Index closed down 0.8 percent for the week, hitting its lowest level since early April.
The Shenzhen Component Index fell 146 points, or 1.08 percent, to 13,471 on turnover of 1.01 trillion yuan while the ChiNext Index dropped 16 points, or 0.49 percent, to close at 3,322 on turnover of 457.74 billion yuan.
Onshore sentiment has weakened over the past month after investors took profits from a record-breaking AI-led rally earlier this year. Liquidity has also dried up. This week, daily turnover in onshore shares hovered near the year’s lowest level.
The tech-focused Star50 Index was down as much as 3 percent to its lowest level since late April.
Non-ferrous metal shares slumped more than 4 percent, leading declines onshore, with Zijin Mining Group down 5.4 percent, as metal prices broadly fell.
Against broad declines, optical module maker Zhongji Innolight rose 4 percent.
Sentiment was also dampened as expectations for a Fed rate hike rose after US producer prices rose in August on higher costs for goods, airline fares and hospital services.
AI chipmaker Shanghai Enflame Technology surged about 180 percent in its Shanghai debut on Friday, after the Tencent-backed company raised 6.12 billion yuan in its initial public offering.
In Tokyo, the Nikkei 225 gauge recovered ground from an earlier fall of 3.16 percent to end 1,259 points, or 1.93 percent, lower at 64,011, giving it a 0.4 percent decline for the week. The broader Topix slipped 26 points, or 0.65 percent, to 4,028.
In Seoul, the Kospi closed down 124 points, or 1.76 percent, at 6,909 as index heavyweight chipmaker duo Samsung Electronics fell 3.53 percent and SK Hynix lost 2.21 percent. (Reuters & Xinhua)
