Hong Kong (CNN Business) Alibaba's Hong Kong shares stumbled past the finish line Friday as they wrapped their first week of trading in the Asian financial hub. But the stock has still managed to score double-digit gains since its debut.

Shares of the Chinese e-commerce company closed down 2.75% at 198.40 Hong Kong dollars ($25.35) on Friday. But the stock is still up nearly 13% from where it was priced when Alibaba first started trading in Hong Kong on Tuesday.

Hang Seng Index HSI Positive news was hard to find elsewhere in the region. Stocks broadly slumped in Asia, led mostly by Hong Kong's benchmark. The Hang Seng ended 2% lower — losses weighed down by the health care sector, which was the biggest loser.

Drug makers in particular sank after China announced the latest additions to its national reimbursement list, a tally of drugs that can be covered by the state's insurance plan.

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