Market Roundup

The U.S. tariffs have caused global market fluctuations. The Hang Seng Index opened 564 points lower and then narrowed its decline to 204 points, reaching 22,998 points. By midday, it had fallen 366 points or 1.6%, to 22,835 points. The China Enterprises Index fell 122 points or 1.4%, to 8,408 points. The Hang Seng Tech Index dropped 120 points or 2.2%, to 5,306 points. The total market turnover for the half-day was HKD 163.971 billion. Due to tariff factors, export stocks were significantly under pressure, with STELLA (1836) and Shenzhou International (2313) falling 15% and 14% respectively. Low-value goods from China and Hong Kong are no longer exempt from tariffs, causing Alibaba (9988) shares to drop by 5.2%.

Source: KGI Investment Strategy

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