
Market Recap
On Tuesday, US stocks closed higher, marking the third consecutive day of gains for all three major indexes. The market continued to focus on the impact of President Trump’s tariff policies. Federal Reserve Governor Kugler stated that the monetary policy stance is well-positioned and that rates could remain stable for “some time.” Additionally, US home prices showed slight acceleration in January.
As the April 2nd deadline approaches for Trump’s “reciprocal tariffs,” Wall Street remains cautious about potential inflationary pressures and slowing economic growth.
Investor sentiment improved after news that the White House may scale back the scope of the tariffs. Trump mentioned on Monday that he might offer tariff exemptions to several countries but emphasized that tariffs on specific industries, including pharmaceuticals and automobiles, would be implemented “soon.”
Ahead of the US stock market close on Tuesday, Trump reiterated that the tariffs set for April 2nd are final and that he will apply them fairly to foreign goods entering the US.
Analysts noted that Trump’s announcement of the tariffs on April 2nd, dubbed “Liberation Day,” signals the start of more protectionist trade policies aimed at punishing trade partners he has long accused of exploiting the US.
US Stocks Highlights
Large tech stocks mostly saw gains, with Tesla rising over 3%, Netflix up more than 2%, and Apple, Google, Amazon, and Meta all rising over 1%. Microsoft showed slight gains while Nvidia and Intel fell slightly. Among individual stocks, Trump Media & Technology Group surged more than 8%.
Chinese tech stocks were mostly lower, with the Nasdaq China Gold Dragon Index down by 1.22%. Lotuses Tech dropped over 13%, Pony.ai fell by more than 8%, and LuTu Tech fell by more than 6%. However, DAQO New Energy rose over 3%, and Shengmei Semiconductor gained over 2%.
US Stocks Market – Technical Analysis

US Stocks Market Performance
- Dow Jones rose 4.18 points (+0.01%) to 42,587.50
- Nasdaq gained 83.27 points (+0.46%) to 18,271.86
- S&P 500 rose 9.08 points (+0.16%) to 5,776.65
Hong Kong Stocks Highlights
The three major Hong Kong stock indices all posted gains. On the sector level, technology stocks saw widespread increases, with Lenovo Group, JD.com, Xiaomi, NetEase, and Baidu rising more than 1%. Auto stocks were strong overall, with Li Auto gaining over 4%. Property and real estate stocks also performed well, with China Resources Vientiane Life rising over 8%. However, Nongfu Spring saw a decline of more than 8% after its earnings report.
The automotive sector was strong, with Li Auto rising over 4%. Li Gang, director of the Department of Consumer Promotion at the Ministry of Commerce, mentioned that local authorities are guiding business departments to develop pilot programs for car circulation reform. They will select pilot cities according to the “mature first, start one by one” principle.
Hong Kong Stocks Market – Technical Analysis

Hong Kong Stocks Market Performance
- Hang Seng Index rose 0.25% to 23,402.05
- Hang Seng Tech Index rose 0.79% to 5,561.00
- H-Share Index rose 0.11% to 8,625.86
A50 & Mainland China Highlights
The three major A-shares indices opened low but rebounded and then experienced a slight pullback, with a total market turnover of 746.43 billion yuan. Overall, most stocks rose, with over 4,100 stocks gaining.
On the sector level, grinding machines, synchronous reluctance motors, metal recycling, Bluetooth audio SoC chips, new industrialization, gearboxes, diamond wires, metal forming machines, photovoltaic cutting equipment, and machine tool parts saw the biggest gains. On the downside, amusement facilities, nuclear power infrastructure, silicon steel, X-ray detectors, recombinant proteins, flywheel energy storage, electric bicycles, exploration equipment, special steel, and refining equipment experienced the largest losses.
China Market – Technical Analysis

China Market Performance
- Shanghai Composite Index fell 0.18% to 3,364.05
- Shenzhen Composite Index fell 0.63% to 10,628.16
- ChiNext Index fell 0.63% to 2,138.96
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