(10 Apr 2025)
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ASSOCIATED PRESS
Hong Kong – 10 April 2025
1. Various of Hong Kong Exchange building with displays showing index figures with Hang Seng index up on Thursday morning
2. SOUNDBITE (English) Francis Lun, CEO of Geo Securities:
"Everything is still very volatile, because with Donald Trump, you don’t know what to expect. This is really big uncertainty in the big market, the threat of recession has not faded, and one of the most important indicators is that US interest rates are spiking, because people fear that China will unload one trillion US dollars worth of US treasuries bills. And that will bring chaos to the global financial market, if China decided to dump US treasuries in the market. And US interest rate could well pike to five or six per cent. And in addition to the threat of inflation, threat of inflation, so everything is still in a state of flux, and the market is still in turmoil, we don’t know what to expect next."
3. Various exteriors of Hong Kong Exchange building
STORYLINE:
Asian stock markets recovered on Thursday after Trump tariff trauma.
But uncertainty remains, especially between the US and China, according to veteran Hong Kong investment manager Francis Lun.
Investors are concerned about what China will do with its US treasuries, Lun says – and about interest rates and inflation rates.
But for the now, Hong Kong’s benchmark Hang Seng index has climbed back above 20,000 on Thursday, after several days of falls.
Asian shares surged in morning trading, with Japan’s benchmark jumping more than 2,000 points almost immediately after the Tokyo exchange opened, as investors welcomed US President Donald Trump’s decision to back off on most of his tariffs.
Analysts had expected the regional comeback given that U.S. stocks had one of their best days in history on a euphoric Wall Street Wednesday, where investor hopes had run high that Trump would tone down the tariffs.
On Thursday, Japan’s benchmark Nikkei 225 jumped 8.3% in morning trading to 34,353.17, zooming upward as soon as trading began. Australia’s S&P/ASX 200 soared 4.71%.
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