Market Roundup

U.S. President Trump announced a 10% tariff on Chinese imports starting next Tuesday. The Hang Seng Index opened 102 points lower and extended its decline, closing down 777 points or 3.3% at 22,941 points. The China Enterprises Index fell 317 points or 3.6% to 8,417 points. The Hang Seng Tech Index dropped 313 points or 5.3% to 5,568 points. The total market turnover for the day was HKD 406.2 billion. Xiaomi (1810) received over 10,000 orders for the SU7 Ultra within two hours of its launch, but its stock price softened after opening higher, falling by 2.3%. Additionally, tech stocks continued to weaken, with Tencent (700) down 3.4% and JD.com (9618) down 3.9%.

Source: KGI Investment Strategy

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