The 156-day trial, which began in December 2023, has become the most high-profile example of China's crackdown on rights and freedoms in the Asian financial hub under a sweeping national security law that was imposed after mass pro-democracy protests in 2019.
When asked on Thursday to give an indication of the verdict date, one of the three judges Esther Toh said this would be announced "in good time".
The 77-year-old Lai, who is the founder of the now-shuttered pro-democracy Apple Daily newspaper, has pleaded not guilty to two charges of conspiracy to collude with foreign forces, and a charge of conspiracy to publish seditious material.
Some countries such as the US say the trial is politically motivated and have demanded Lai's immediate release. The Chinese and Hong Kong governments say he is being given a fair trial.
Lai, who faces possible life imprisonment, stands accused of using the Apple Daily as a platform to conspire with six former executives and others to produce seditious publications between April 2019 and June 2021, and to collude with foreign forces between July 2020 and June 2021.
He was accused of conspiring with activist Andy Li, paralegal Chan Tsz-wah and others to invite foreign countries including the US, Britain and Japan to impose sanctions, blockades and other hostile activities against Hong Kong and China. He was also accused of financing advocacy group Stand with Hong Kong.
During the submissions, Lai's lawyer Marc Corlett said there was no evidence his client directed or agreed with any of his alleged co-conspirators to continue such actions against Hong Kong and China after the security law took effect.
Corlett described the accomplice witness Chan Tsz-wah as a "serial liar" while saying Li had engaged in activities that violated the security law of his "own volition" without any involvement from Lai.
He added that merely following the Twitter accounts of Stand with Hong Kong and another group critical of Beijing, the Inter-Parliamentary Alliance on China, did not amount to support for them.
Another lawyer for Lai, Robert Pang, said the 161 articles cited by the prosecution were not seditious and the press should be given "greater latitude" of freedom of expression.
