Understanding the Market | Trump's Tariffs Change Again, Pressuring Export Stocks, Techtronic Industries Drops 4% During Trading, Shenzhou International Falls Over 3%
Export stocks generally weakened today. As of the time of writing, BYD Electronics fell 5.28% to HKD 31.4; Techtronic Industries fell 3.51% to HKD 87.9; CRYSTAL INTL fell 3.45% to HKD 5.04; Shenzhou International fell 3.29% to HKD 57.3; Haier Smart Home fell 2.77% to HKD 22.85. In terms of news, there are new uncertainties regarding Trump's tariffs. On May 29th local time, the U.S. Court of Appeals for the Federal Circuit approved the Trump administration's request to temporarily suspend the U.S. International Trade Court's previous ruling that prohibited the enforcement of the Trump administration's executive order imposing tariffs on multiple countries under the International Emergency Economic Powers Act. The U.S. Court of Appeals also ordered both parties to submit written arguments regarding the issue of preventing tariff imposition, with relevant documents due early next month. The court will then decide on the next steps. Additionally, reports indicate that the Trump administration is seeking a Plan B, proposing to impose a 15% global tariff within 150 days
According to Zhitong Finance APP, export stocks generally weakened today. As of the time of publication, BYD Electronics (00285) fell by 5.28%, trading at HKD 31.4; Techtronic Industries (00669) dropped by 3.51%, trading at HKD 87.9; CRYSTAL INTL (02232) decreased by 3.45%, trading at HKD 5.04; SHENZHOU INTL (02313) declined by 3.29%, trading at HKD 57.3; Haier Smart Home (06690) fell by 2.77%, trading at HKD 22.85.
On the news front, there are new uncertainties regarding Trump's tariffs. On May 29 local time, the U.S. Court of Appeals for the Federal Circuit approved the Trump administration's request to temporarily suspend the previous ruling by the U.S. International Trade Court that prohibited the enforcement of the Trump administration's tariffs on multiple countries under the International Emergency Economic Powers Act. The U.S. Court of Appeals also ordered both parties to submit written arguments regarding the issue of preventing the imposition of tariffs, with relevant documents due early next month. The court will then decide on the next steps. Additionally, reports indicate that the Trump administration is seeking a Plan B, proposing to impose a 15% global tariff within 150 days
