Li Ning's Gains Propel Shanghai Composite Index and Hong Kong Stocks Despite US Car Tariff Concerns

Market Reactions to Easing US Car Tariffs

Li Ning and the Shanghai Composite Index witnessed positive movements, buoyed by waning concerns over US car tariffs. The Hang Seng Index climbed 0.3% to 23,658.46, and the Hang Seng Tech Index rose 0.1%.

Stock Performance Highlights

• Li Ning surged 4.4% to HK$17.88, exceeding analyst expectations in their sales report.
• Alibaba Group Holding rose 1.8% to HK$132.50.
• Tencent Music Entertainment exhibited a gain of 2.1% to HK$57.80.
• Trip.com advanced 2.1% to HK$511.00.

While the Hong Kong market rejoiced, Nio plummeted 7.5% following a new share placement, joining peers BYD and Xiaomi in the trend. Haier Smart Home saw a decline of 5.1% to HK$25.35 due to disappointing year-end net income.

Banking Sector Performance

• ICBC, China’s largest bank, fell 0.5% to HK$5.51.
• China Construction Bank remained mostly flat.

Both banks are set to announce results, potentially influencing further market dynamics.

Regional Market Overview

Asian markets reflected mixed trends: Japan’s Nikkei 225 and South Korea’s Kospi dipped by 2.2% and 1.6%, respectively. Conversely, Australia’s S&P/ASX 200 recorded a modest increase of 0.4%.

Investors are currently awaiting additional tariff announcements expected on April 2, which might affect inflation rates in the US.