Market Roundup

U.S. President Donald Trump stated he will send letters to notify countries about reciprocal tariff rates. The Hang Seng Index (HSI) opened 169 points lower, with early losses widening to 379 points, reaching 23,690. It later narrowed its decline to 136 points, peaking at 23,932. By midday, it was down 148 points or 0.6%, closing at 23,921. The China Enterprises Index (CEI) dropped 36 points or 0.4%, closing at 8,611. The Hang Seng Tech Index fell 24 points or 0.5%, ending at 5,209. Total market turnover for the morning session was HKD 157.689 billion. Alibaba (9988) issued approximately HKD 12 billion in zero-coupon convertible bonds, which can be converted into shares of Alibaba Health (241), stock prices fell by 0.6% and 6.4%, respectively.

Source: KGI Investment Products and Solutions Department

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