Xiaomi’s Hong Kong stock was up 5.67% Friday to trade at 42.85 Hong Kong dollars, while Alibaba stock jumped 1.47% to trade at 100 Hong Kong dollars.
After signing executive orders to levy 25% tariffs on Mexico and Canada, fears of a global trade war have eased slightly after Trump gave both countries a 30-day reprieves for tariffs, raising hopes that tariffs are likely to be a negotiation tool rather than the Trump administration’s long-term policy.
Chinese technology stocks trading in Hong Kong appear poised to enter a bull market after AI models released by DeepSeek sparked renewed interest in China’s technology firms.
However, Trump has pressed ahead with 10% tariffs on Chinese goods, while China has retaliated by imposing tariffs on U.S. coal and liquefied natural gas products as well as crude oil, agriculture machinery and large-engine cars.
Japan’s Nikkei index may come under greater pressure from a stronger yen, with a sharp beat in January household spending reinforcing expectations for further rate hikes from the Bank of Japan ahead, according to Yeap Jun Rong, market strategist at IG.
