Market Roundup

US President Trump announced that a 10% tariff would be imposed on Chinese imports starting next Tuesday. The Hang Seng Index opened 102 points lower and then widened its losses, falling 546 points or 2.3% in half a day to 23,171 points; the H-Share Index fell 214 points or 2.5% to 8,520 points; and the Hang Seng Tech Index fell 222 points or 3.8% to 5,658 points. The total market turnover for half a day was HK$191.6 billion. Xiaomi (1810) SU7 Ultra received over 10,000 orders within two hours of its launch, but its share price softened after opening higher, but fell 1% in half a day. In addition, technology stocks continued to weaken, with Tencent (700) and JD.com (9618) fell by more than 2%.

Source: KGI Investment Strategy

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