Asian markets reacted swiftly to Trump’s latest tariff threats. The Hang Seng Index fell 0.48% on Wednesday morning, with tech stocks leading the sell-off. Alibaba (9988) and Baidu (9888) slid by 1.35% and 2.44%, respectively.
Meanwhile, the Hang Seng Mainland Properties Index rallied 1.36% after housing sector data from China signaled a potential recovery.
Brian Tycangco, editor and analyst at Stansberry Research, commented:
“China property recovery appears to be on track. First tier cities leading price recovery.”
China’s House Price Index fell 5% year-over-year in January after a 5.3% decline in December. CN Wire reported that house prices in China’s first-tier cities increased while declines were modest across second and third-tier cities.
Meanwhile, Mainland China’s equity markets bucked the broader market trend. The CSI 300 and the Shanghai Composite Index advanced by 0.46% and 0.57%, respectively.
The latest house price data and optimism surrounding Monday’s symposium on private enterprises boosted investor confidence.
