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ASIA STOCKS: China & HK Equities Brush Off Trump Tariffs News

ASIA STOCKS
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Chinese and Hong Kong markets showed resilience on Tuesday, recovering from earlier losses as investors weighed the potential impact of President-elect Donald Trump's proposed tariffs on Chinese imports. The HSI is trading 0.3% higher, Baidu surged by a 5% on reports of its autonomous ride-hailing trial in Hong Kong. Onshore, the CSI 300 and Shanghai Composite indices are both trading about 0.2% higher, driven by optimism in sectors such as Macau casinos, with Sands China up 3.4%.

  • Trump’s tariff threats, including an additional 10% levy on Chinese goods and a possible universal 60% rate, spurred caution, though investors noted the importance of implementation details and magnitude, while it was widely expected tariffs would be in trumps plans, anything below 60% was largely seen as positive.
  • Looking at onshore markets today, healthcare and consumer staples are the top performing sectors, small-caps are underperforming slightly with the CSI 1000 & 2000 trading about 0.30% lower. Overall markets are trading slightly higher however ranges are narrow.
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Chinese and Hong Kong markets showed resilience on Tuesday, recovering from earlier losses as investors weighed the potential impact of President-elect Donald Trump's proposed tariffs on Chinese imports. The HSI is trading 0.3% higher, Baidu surged by a 5% on reports of its autonomous ride-hailing trial in Hong Kong. Onshore, the CSI 300 and Shanghai Composite indices are both trading about 0.2% higher, driven by optimism in sectors such as Macau casinos, with Sands China up 3.4%.

  • Trump’s tariff threats, including an additional 10% levy on Chinese goods and a possible universal 60% rate, spurred caution, though investors noted the importance of implementation details and magnitude, while it was widely expected tariffs would be in trumps plans, anything below 60% was largely seen as positive.
  • Looking at onshore markets today, healthcare and consumer staples are the top performing sectors, small-caps are underperforming slightly with the CSI 1000 & 2000 trading about 0.30% lower. Overall markets are trading slightly higher however ranges are narrow.