Market Roundup

US President Trump's threat to impose 100% tariffs on Chinese goods triggered turmoil in the US stock market. Trump subsequently posted a soothing message, prompting a rebound in US stock futures. The HSI opened 656 points lower, narrowing its losses to 407 points at 25,883 before extending its losses before noon, falling 916 points, or 3.5%, to 25,374. The HSCEI Index fell 325 points, or 3.5%, to 9,032. The HSTECH fell 284 points, or 4.5%, to 5,975. Market turnover totaled HK$281.8bn. Stocks particularly affected by tariffs saw selling pressure. Mobile phone component stocks such as Cowell (1415) and BYD Electronics (0285) fell 7.1%, Sunny Optical (2382), AAC Technologies (2018), and Q Technology (1478) dropped over 8%, and Lens Technology (6613) dropped 9.5%.    

Source: KGI Investment Products and Solutions Department

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