Market Updates
China and Hong Kong Indexes Advanced After Trade Court Struck Down Trump Tariffs
Li Chen
29 May, 2025
Hong Kong
Stock market indexes in China and Hong Kong traded higher and approached two-month highs after a U.S. court struck down tariffs unilaterally imposed by the U.S. president.
The Hang Seng index advanced 0.7%, and the mainland-focused CSI 300 index gained 0.6% as investors surmised that the court's ruling may not impede international trade.
The U.S. Court of International Trade, located in New York City, struck down the so-called "reciprocal tariffs," stating that the U.S. president had overstepped his authority.
The panel of three judges added that it did not see a direct connection between the president's stated objective of arresting the drug trafficking in the U.S. and the administration's approach in taxing legal trade.
The court ruling removed for now one level of uncertainty, and investors shifted their attention to corporate earnings and economic releases.
The manufacturing sector is likely to show a contraction in activities for the second consecutive month in May, according to a report from the National Bureau of Statistics later in the week.
China Indexes and Stocks
The Hang Seng index jumped 0.7% to 23,408.36, and the mainland-focused CSI 300 index edged higher 0.6% to 3,862.44.
Alibaba Group Holding advanced 0.8% to HK $116.60, Meituan jumped 4.5% to HK $137.90, and the apparel maker Shenzhou International Group Holdings gained 4.6% to HK $59.45.
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