Hong Kong Equities Subdued
In early Tuesday trading, Hong Kong shares remained largely stable, close to the 21,420 mark. This stability comes as advances in property and consumer stocks balanced out declines in technology and financial sectors. Traders are evaluating the implications of a recent temporary tariff exemption on popular electronics, announced by President Trump the previous Friday. They are also considering the possibility of additional tariffs in the coming weeks, with semiconductors being a potential target. Furthermore, investors await significant Chinese economic data to be released later this week, including the first quarter GDP figures, industrial production, retail sales, and unemployment rates. Simultaneously, market participants observe Beijing's continuous efforts to stabilize mainland stock markets, with regulators reportedly limiting daily net sales by hedge funds and major retail investors to CNY 50 million. Among the top gainers were Tingyi (Cayman Islands) Holdings (up 4.0%), Pop Mart International (up 3.6%), and CK Hutchison Holdings (up 3.2%). Conversely, notable decliners included Prada SpA (down 5.7%), Hansoh Pharmaceutical (down 3.3%), and Li Auto (down 2.8%).
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