(13 May 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Hong Kong – 13 May 2025
1. Pan of exterior of Hong Kong Stock Exchange building
2. Various of electronic boards showing the benchmark Hang Seng Index
3. Pan of exterior of Hong Kong Stock Exchange building
4. Tilt up from close of hands of Louis Wong, Director of Phillip Securities Group, to close of his face
5. SOUNDBITE (English) Louis Wong, Director of Phillip Securities Group:
“I think investors are aware that the trade deal is not done yet. It’s not done deal yet. Is only that this 90-day period for the US and China to buy more time to clinch a deal.”
6. Close of Wong
7. SOUNDBITE (English) Louis Wong, Director of Phillip Securities Group:
“The Hang Seng Index has actually risen about 4,000 points from the recent low, around 19,260, more than 4,000 points, and it has priced in the expected deal between the US and China. So investors would, I would, advise investors to remain cautious in the near term and to be prepared for unexpected news from the trade fund.”
8. Mid of entrance to Hong Kong Stock Exchange
9. Close of electronic board showing benchmark Hang Seng Index
10. Tilt down from top of electronic board to passers-by
STORYLINE:
Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump’s policies could still quickly change.
The United States said that it will cut tariffs on Chinese goods to 30% from as high as 145%.
China, meanwhile, said its tariffs on U.S. goods will fall to 10% from 125%.
The 90-day pause gives time for more talks following the weekend’s negotiations in Geneva, Switzerland, which the U.S. side said yielded “substantial progress.”
Market analyst Louis Wong in Hong Kong said investors are aware that the trade deal is not a done deal and should be prepared for "unexpected news."
Hong Kong’s Hang Seng, which gained 3% a day earlier after Chinese and U.S. officials announced the agreement to pause tariffs and reduce them, fell 0.7% to 23,374.06 on heavy selling of technology shares.
Tokyo’s Nikkei 225 jumped 1.8% to 38,326.37.
Automakers were among the big gainers, with Toyota Motor Corp. up 3.7% and Suzuki Motor Corp. 4.6% higher.
The Kospi in South Korea gained 0.2% to 2,612.30.
The Shanghai Composite index edged 0.2% higher to 3,374.93. Taiwan’s Taiex jumped 1.9%.
Australia’s S&P/ASX 200 climbed 0.6% to 8,281.40.
AP vide shot by: Alice Fung
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