Market Roundup

The US's imposition of a 104% tariff on some Chinese goods has once again triggered financial market turmoil. In the afternoon, southbound funds net bought HK$35.6bn, setting a record high. Hong Kong stocks fell first and then rebounded. The HSI opened 632 points lower and once fell 867 points. In the afternoon, the Hong Kong stock market saw a surge in southern funds buying, which pulled up the index. The HSI rose 136 points or 0.7% today to close at 20,264: the HSCEI rose 105 points or 1.4% to close at 7,535; the HSTECH rose 120 points or 2.6% to close at 4,689. The total daily market turnover was HK$412.4bn. The US tripled the tariff rate on small packages from China to 90%, and the related stocks had different trends. Alibaba (9988) rose 1.1% and JD.com (9618) fell 0.7%.

Source: KGI Investment Strategy

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