Latest news with #ShenzhenCompositeIndex
South China Morning Post
10-04-2025
- Business
- South China Morning Post
Hang Seng Index soars, tracking Asian stock markets as Trump hits pause on most tariffs
Hong Kong's benchmark stock index soared, tracking advances across most Asian markets, after US President Donald Trump hit a 90-day pause on his import tariffs for most of America's trading partners except China. Advertisement Hang Seng Index rose 2.7 per cent to 20,810.43 when trading commenced. On the mainland, the CSI 300 Index, which tracks the 300 largest companies in Shanghai and Shenzhen, rose 1.7 per cent to 3,749.13 when transactions began. The Shanghai Composite Index increased 1.3 per cent to 3,227.84, while the Shenzhen Composite Index rose 2 per cent at 1,860.31. Trump announced a 90-day pause overnight on slapping tariffs on every trading partner – excluding mainland China and Hong Kong – that was subject to his 10-per cent baseline levy. That announcement sent Wall Street reeling, pushing the S&P500 index to jump 9.5 per cent, while the Nasdaq closed 12.2 per cent higher, in the biggest one-day jump in 24 years. 'The overnight announcement from the US is welcome news,' said ANZ Group's chief economist Richard Yetsenga. 'The global situation remains fluid, but conditions have improved. The administration has pivoted. The pivot is not a reversal, but it is good news.' Benchmark gauges soared in most of the Asia-Pacific markets that began trading before Hong Kong. The Nikkei 225 index opened 1.9 per cent higher before surging to an intraday high of 8.3 per cent, lifting Japan's stock index from its bear market. Advertisement In Seoul, the Kospi index opened 4.4 per cent higher. In Sydney, the ASX 200 index was unchanged at the start before jumping 5.1 per cent to an intraday high. In Wellington, the NZ50 benchmark advanced 3.8 per cent from a flat opening.
South China Morning Post
03-04-2025
- Business
- South China Morning Post
Trump tariffs jolt Apple's supply chain in China, as shares of Goertek and Luxshare plunge
An extensive supply chain in China that supports US consumer electronics giant Apple is facing significant disruptions from new tariffs imposed by US President Donald Trump, as share prices of major contract manufacturing partners fell by the maximum daily limit across the country's stock markets on Thursday. Advertisement Shenzhen-listed Goertek, an acoustic components manufacturer based in eastern Shandong province, dropped 10 per cent to its lowest level this year. Similarly, Luxshare Precision Industry declined 10 per cent, while Lens Technology plunged 10.6 per cent. The Shanghai Composite Index lost 0.2 per cent, while the Shenzhen Composite Index fell 1.4 per cent. Goertek , Luxshare and Lens Technology are often referred to as the 'three musketeers' of Apple's supply chain due to their significant ties to the iPhone maker, although specific details about their business relationships remain undisclosed. Apple's chief operating officer Jeff Williams visited Goertek and Luxshare last week, according to statements from the suppliers. Apple CEO Tim Cook, right, visits a Luxshare plant in Kunshan, Jiangsu province, in 2017. Photo: Handout In Hong Kong, Cowell E Holdings plummeted 17.8 per cent, Sunny Optical Technology Group slid 6.6 per cent, while BYD Electronic International sank 8.7 per cent. Advertisement
