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 3,021 points or 13.2% to close at 19,828, marking the largest single-day point drop in history; the HSCEI fell 1,157 points or 13.8% to close at 7,262; and the HSTECH fell 911 points or 17.2% to close at 4,401. The total market turnover for the day was HK$620.9bn. Heavyweight technology stocks fell sharply today, with Tencent (0700), Alibaba (3690), and Meituan (3690) falling between 14% and 21%. 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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