Hong Kong Stocks Surge Following U.S. Tariff Ruling
Hong Kong stocks, particularly tech and mainland shares, soared on Monday following a U.S. Supreme Court ruling reducing tariffs on China. The Hang Seng Index rose 2.3%, with significant gains in tech stocks like Alibaba and Tencent. The decision is anticipated to stabilize U.S.-China trade relations.
On Monday, Hong Kong stocks experienced a significant uptick, primarily driven by tech and mainland shares, after a favorable ruling from the U.S. Supreme Court regarding tariffs on China.
The benchmark Hang Seng Index rose 2.3% to reach 27,019.21 by midday, marking its most substantial gain since February 12, while the Hang Seng China Enterprises Index saw a 2.5% increase.
Following the ruling, which struck down previous tariffs, China's tariff rates are expected to decrease from 32% to 24%, spurring optimism in the market. This sentiment was mirrored in the notable performances of tech giants Alibaba and Tencent.
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