US Market Highlights
On Thursday, US market closed sharply higher on Wednesday, with the Dow Jones surging more than 2,960 points and the S&P 500 recording its biggest one-day gain since 2008. The rally was fueled by a surprise announcement from President Donald Trump, who rolled back some of the harsh tariffs introduced just a week earlier. Tariffs for most countries were temporarily lowered to 10%, catching markets off guard and relieving investors and US businesses alike.
On Wednesday afternoon (ET), President Trump posted on Truth Social that the full implementation of new tariffs would be paused for several countries. Effective immediately, tariffs for most nations would be reduced to 10% for a 90-day period.
Analysts believe the move is a strategic step toward initiating trade negotiations with those countries.
The decision came just hours after nearly 90 nations were hit by steep “reciprocal” tariffs from the US Trump stated that following the tariff announcement last week, “more than 75 countries” had reached out to American officials seeking negotiations.
Previously, Trump had said he would impose a baseline 10% tariff on imports from over 180 countries. Around 90 countries were subject to reciprocal tariffs ranging from 11% to 50%.
US Market – Technical Analysis
US Market Performance
- Dow Jones rose 2,962.86 points (+7.87%) to close at 40,608.45
- Nasdaq surged 1,857.06 points (+12.16%) to 17,124.97
- S&P 500 jumped 474.13 points (+9.52%) to 5,456.90
Tech Stocks Rally
Major tech stocks soared:
Tesla rose over 22%, Nvidia 18%, Apple 15%, Meta 14%, Amazon 11%, Microsoft 10%, and Google 9%.
The Philadelphia Semiconductor Index jumped 19%, its biggest one-day gain ever.
Arm Holdings surged over 24%, Super Micro Computer 23%, NXP Semiconductors 21%, while Micron and Intel climbed more than 18%.
Chinese Stocks
Popular Chinese ADRs also rallied:
Li Auto, Bilibili, JD.com, and XPeng jumped over 6%, Alibaba and NIO gained more than 5%, and Baidu rose over 4%.
Hong Kong Market Highlights
Hong Kong’s major indices gave up early gains in a volatile session.
Tech stocks broadly rose, with Lenovo up over 6%, Kuaishou 4%, Xiaomi and JD.com more than 2%, and Tencent, Alibaba, and Baidu all gaining over 1%.
Apple-related stocks led early gains — Rongyang Industrial surged more than 13%.
The shipping and port sector posted strong gains, with Deksing Marine rising over 9%.
President Trump announced on the 9th (local time) that countries refraining from retaliatory tariffs would receive a 90-day suspension. The news triggered a spike in China’s commodity futures at the open, with the main European shipping contract hitting its daily limit.
Hong Kong Market – Technical Analysis
Hong Kong Market Performance
- Hang Seng Index rose 1.80% to 20,628.86
- Hang Seng Tech Index gained 2.36% to 4,800.06
- China Enterprises Index climbed 1.41% to 7,641.84
A-Share Market (Mainland China)
Mainland Chinese indices opened strong, saw slight pullbacks, then rebounded to maintain high-level consolidation. Over 4,900 stocks ended higher, reflecting broad market strength.
Top-performing sectors included silk, footwear & gloves, power tools, UTG glass, metamaterials, linear drives, Bluetooth audio SoCs, textile exports, office furniture, and stealth materials.
Sectors under pressure included telecom operators, public cloud, transportation, quantum tech, ports, generators, cabinets, beverages, hydrogen vehicles, and wardrobes.
China Market – Technical Analysis
China Market Performance
- Shanghai Composite rose 0.93% to 3,216.41
- Shenzhen Component gained 2.19% to 9,749.12
- ChiNext Index added 2.4% to 1,902.93
Risk Disclosure
Securities, Futures, CFDs and other financial products involve high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding your initial investment could incur within a short period of time.
Please make sure you fully understand the risks of trading with the respective financial instrument before engaging in any transactions with us. You should seek independent professional advice if you do not understand the risks explained herein.
Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
The above information should not be used or considered as the basis for any trading decisions or as an invitation to engage in any transaction. Doo Prime does not guarantee the accuracy or completeness of this report and assumes no responsibility for any losses resulting from the use of this report. Do not rely on this report to replace your independent judgment. The market is risky, and investments should be made with caution.
