Market Roundup

After US President Trump announced reciprocal tariffs, a global stock market crash occurred, and Hong Kong stock market fell sharply today. The HSI opened 2,119 points lower and then extended its decline, falling 2,445 points or 10.7% to 20,404 at mid-day; the HSCEI fell 909 points or 10.8% to 7,510; and the HSTECH fell 741 points or 14% to 4,571. The total market turnover for today was HK$322.02bn. Heavyweight technology stocks fell sharply today, with Tencent (0700), Alibaba (3690), and Meituan (3690) falling between 11% and 17%. Stocks with a higher correlation with US market revenues suffered the biggest declines, with Hon Teng (6088) and Cowell Electronics (01415) both falling by more than 20%.

Source: KGI Investment Strategy

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