Hong Kong stocks ended the week in the red as investors tracked updates in the Middle East and a report from Fitch predicted risks to Asian supply chains due to a prolonged conflict.

The Hang Seng Index fell by around 251.16 points, or roughly 1%, to end at 25,465.60, while the Hang Seng China Enterprises Index decreased by 28.07 points, or around 0.3%, to close at 8,671.48.

Lingering disturbance in shipping and airspace due to the Iran conflict could have diverging but increasingly negative credit impact on Asia-Pacific port and airport operators, Fitch Ratings said in a recent release.

Chinese container ports will likely observe clear disruptions through network dislocation as opposed to significant Middle East exposure, Fitch said.

Meanwhile, business receipts across major service industries in Hong Kong rose in the fourth quarter of 2025, with financing, insurance, and trade posting the strongest year-on-year gains, the Census and Statistics Department said.

Receipts in financing (excluding banking) jumped 34.7% from a year earlier, while insurance rose 31.9%, import/export trade climbed 20.1%, and banking increased 16%.

In corporate news, two firms launched their initial public offerings in Hong Kong.

Chinese direct-to-customer networking equipment provider FS.com (HKG:3355) is seeking to raise up to HK$1.66 billion via the sale of 40 million H-shares at a maximum price of HK$41.60 per share.

The firm is seeking funds to enhance its technology platform, including research and development for networking equipment, operating systems, and cloud-based network management.

Meanwhile, Nsing Technologies (HKG:2701, SHE:300077) is seeking to raise up to HK$1.03 billion via an offering of 95 million H-shares at a maximum price of HK$10.80 per share.

The Chinese printed circuit board manufacturer is seeking funds mainly for research and development.