(3 Feb 2025)
RESTRICTIONS SUMMARY:
ASSOCIATED PRESS
Hong Kong – 3 February 2025
1. Various of officials banging the gong at the ceremony marking the reopening ceremony of the Hong Kong Stock Exchange after the Lunar New Year, followed by performances
2. Various of electronic display outside the main entrance of Hong Kong Stock Exchange
3. SOUNDBITE (English) Francis Lun, CEO, Geo Securities:
++PART OVERLAID BY SHOTS 1, 2 & 4, 5 6++
“(U.S. President) Donald Trump will go on his rambling, incoherent hatred policy against the rest of the world. I think international trade will no doubt be hurt by Donald Trump’s tariffs.”
ASSOCIATED PRESS
Seoul, South Korea – 3 February 2025
4. Various of ticker and analysts working on trading floor
ASSOCIATED PRESS
Taipei City, Taiwan – 03 February 2025
5. Various of Taiwan Stock Exchange logo with Lunar New year ornaments and people walking by
ASSOCIATED PRESS
Tokyo, Japan – 3 February 2025
6. Various of electronic board displaying stock trades, most of the company’s stocks down (displayed in green)
STORYLINE:
Asia shares mostly fell in Monday trading as worries grow about U.S. President Donald Trump imposing tariffs on key U.S. trading partners.
Japan’s benchmark Nikkei 225 lost 2.4% in early trading to 38,612.96. Australia’s S&P/ASX 200 declined 1.8% to 8,376.30. South Korea’s Kospi dropped 2.9% to 2,443.57. Hong Kong’s Hang Seng dipped 1.4% to 19,942.54, while the Shanghai Composite also was lower but little changed at 3,250.60.
Hong Kong-based analyst Francis Lun thinks international trade will be affected.
“Donald Trump will go on his rambling, incoherent hatred policy against the rest of the world. I think international trade will no doubt, be hurt by Donald Trump’s tariffs.”
Wall Street ended last week lower, with the S&P 500 falling 0.5%. The Nasdaq composite dropped 0.3%. The indexes posted their first weekly loss in three weeks. The Dow Jones Industrial Average fell 0.8%.
The selling in New York was broad, with about 75% of the stocks in the S&P 500 closing lower. Technology and energy companies accounted for a large share of the decline.
Investors have been jolted by a report from a Chinese upstart, DeepSeek about developing a cheaper large language model that can complete globally. The disruption raised questions about whether all the investment expected for AI chips is really needed, sending some technology shares tumbling.
Trump’s 25% tariffs on most imports from Canada and Mexico and 10% tariffs on goods from China are to take effect Tuesday. His administration has not said what specific improvements would need to be seen in stopping illegal immigration and the smuggling of fentanyl to merit the removal of the tariffs.
Canada and Mexico ordered retaliatory tariffs on American goods. Canada’s will take effect Tuesday on a range of products, while Canada didn’t give immediate details.
AP VIdeo shot by Alice Fung
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