The trend of high tariffs has changed, Hong Kong stocks staged a strong rebound | Today's important news recap

0423 | Dolphin Research Key Focus:

🐬 Macro/Industry

1、Recently, the White House is gradually approaching agreements with multiple countries to avoid large-scale U.S. tariffs. In the most critical U.S.-China standoff, Trump also spoke, admitting that tariffs on Chinese exports were too high, and rates are expected to drop significantly. Last night, U.S. stocks saw a major reversal in style, with all three major indices closing higher, driving today's strong performance in Hong Kong stocks, while gold prices quickly plunged from highs. Although Trump's tone has softened, follow-up negotiations still cannot rule out prolonged tug-of-war, requiring continued tracking.

2、Domestic e-commerce platforms like Taobao, JD.com, and Pinduoduo have successively revised after-sales rules and solicited feedback, mainly involving "refund-only" terms and wording, clarifying that platforms will not proactively intervene in consumers' "refund-only" requests. Some platforms expect new rules to take effect on April 30. This will help the industry return to healthy competition, ensure fair business operations for merchants, and promote platform growth.

🐬 Stocks

1、$XIAOMI-W(01810.HK)

Regarding foreign media reports that Xiaomi's Yu7 will delay its launch, Xiaomi today actively debunked the rumor, stating that the launch timeline remains unchanged, still as previously announced for June-July.

2、$XPENG-W(09868.HK)

XPeng today officially launched the XPeng P7+ Ultra Long Range Max flagship edition at the 2025 Shanghai Auto Show, priced at 208,800 yuan. Meanwhile, the 2025 XPeng X9 began global deliveries, with its official Weibo announcing over 6,000 firm orders in mainland China within 7 days and over 1,500 in Hong Kong, Macau, and other Asia-Pacific markets (Singapore, Malaysia, Thailand). Notably, the XPeng Iron robot also debuted at the show, demonstrating stable walking capabilities, a significant improvement over its AI Tech Day performance late last year. XPeng rose nearly 9% today.

3、Core Earnings Call & Reports

Tesla: Tesla: Dragged into the Gutter by Musk? Another Test of Faith!, Tesla (1Q25 Minutes): Model 2.5 Production On Schedule, Robotaxi & Optimus Progress Smooth

China Mobile: The Real King of Stocks? China Mobile’s Essential Demand Dominance!

Tonight, New Oriental will report earnings, with Dolphin Research tracking and releasing analysis.

🐬 Top Gainers

A-shares: Auto parts & equipment, payment services, tires & rubber;

Hong Kong: Cloud & data centers, hardware storage & peripherals, industrial machinery;

U.S.: Tires & rubber, heavy electrical equipment, industrial conglomerates.

🐬 Tomorrow’s Watchlist

1、None.

Risk Disclosure & Disclaimer: Dolphin Research Disclaimer & General Disclosures