Market Roundup

The U.S. will notify all countries of the reciprocal tariff rate, which will take effect in August. The market continues to wait and see the US tariff negotiations, and the Hong Kong stock market is weak in the morning. The HSI opened 87 points lower, fell 202 points to 23,713 points in the morning, and then narrowed the decline to 52 points at 23,863. It fell 107 points or 0.4% in the first half of the day to 23,808; the HSCEI fell 37 points or 0.4% to 8,571; the HSTECH fell 7 points or 0.2% to 5,208. The total market turnover in the first half of the day was HK$109.5bn. Xiaomi delivered YU7, and Xiaomi's share price fell 1.1%. The market is paying attention to the China-EU electric vehicle negotiations. BYD (1211) fell 0.5%, and Xpeng (9868) rose 2.1% against the market. Battery stock CATL (3750) fell 1.3%. Meituan issued a large number of takeaway red envelope coupons, and the instant retail daily orders exceeded 120 million. Meituan (3690) fell 2.4%.

Source: KGI Investment Products and Solutions Department

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