The Hong Kong stock market closed lower on Friday, with the Hang Seng Index falling 0.92 percent. Technology stocks and a mixed picture from the property sector contributed to the losses. Alibaba Group, JD.com, and Xiaomi Corporation were among the companies that saw declines. The global market forecast for Asian markets is mixed to lower due to concerns about an artificial intelligence bubble. In the US, the major averages closed mixed on Friday. The NASDAQ plunged 3.0 percent for the week, while the S&P 500 tumbled 1.7 percent and the Dow slumped 1.2 percent. Oil prices saw modest gains on Friday.

Read more at Nasdaq: Steady Start Seen For Hong Kong Stock Market