Market Roundup

Hong Kong stocks were dragged down by the sharp drop in auto stocks today. The HSI opened 95 points lower and the decline widened to 366 points. It fell 318 points or 1.4% for the day to close at 23,282. The HSCEI fell 146 points or 1.7% to close at 8,437; and the HSTECH fell 89 points or 1.7% to close at 5,157. The total market turnover for the day was HK$223.52bn. BYD (1211) offered limited-time promotions and price cuts on 22 of its models, and its share price fell 8.6% throughout the day. Auto stocks such as Geely (0175) and Leapmotor (9863) also fell 9.5% and 8.4% respectively. Trump threatened to impose tariffs of at least 25% on non-US smartphone products. Mobile phone component stocks FIT HON (6088) and BYD Electronics (0285) fell 2.4% and 3.6% respectively.

Source: KGI Investment Products and Solutions Department

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