Market Roundup

Trump announced that he will impose a 10% tariff on Chinese goods as soon as he takes office, causing the RMB to fall. The Hang Seng Index opened 97 points lower at 19,054 points, but turned around to rise 94 points or 0.5% to 19,244 points by midday. The China Enterprises Index rose 28 points or 0.4% to 6,890 points, and the Hang Seng Tech Index rose 18 points or 0.4% to 4,253 points. Baidu (9888) announced that it will conduct the first phase of its "Apollo Go" test at Hong Kong Airport by the end of the year, leading to a 5.8% rise in its stock price, making it the best-performing blue-chip stock today. On the other hand, Shenzhou International (2313) fell by 5.7%, impacted by the U.S. tariffs.

Source: KGI Investment Strategy

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