HONG Kong shares have ended flat, with profit-taking offsetting a positive lead from Wall Street, where the Dow and S&P ended at record highs.
The benchmark Hang Seng Index edged up 17.20 points to 21,362.42 on turnover of $HK47.96 billion ($A6.78 billion) on Friday.
Stocks took their cue from mainland China, where the country's slowing economy dragged down the mainland bourses.
Property shares were among the hardest hit amid worries about the potential expansion of mainland property taxes. China Overseas fell 2.1 per cent to $HK20.75.
Shares of China Resources Power continued to slump, falling 4.5 per cent to $HK16.86.
Chinese shares closed down 1.52 per cent. The benchmark Shanghai Composite Index fell 30.75 points to 1,992.65 on turnover of 87.5 billion yuan ($A15.65 billion). The index lost 2.30 per cent for the week.
Investors continued the sell-off from Thursday after China's finance minister Lou Jiwei said the government will not introduce big stimulus policies this year.
"The government made clear it won't launch any massive stimulus policies, so investors' expectations of a rebound in the domestic economy and the stock market (have been) dashed," Sinolink Securities analyst Tao Jinggang told AFP.
Heavyweight financial shares and property stocks led the declines.
Micro-lender Sunny Loan Top tumbled 8.98 per cent to 8.21 yuan and Pacific Securities slipped 4.14 per cent to 4.86 yuan.
Poly Real Estate slumped 5.57 per cent to 10.18 yuan, while Gemdale lost 5.07 per cent to 6.56 yuan.
Resources shares were also lower, with Baotou Steel Rare-Earth dropping 6.84 per cent to 22.06 yuan and coal producer China Shenhua Energy off 1.12 per cent at 15.92 yuan.
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