Trump‘s tariffs do more harm to US than China stock market!

In the first quarter, the fund gained HK$16.4 (US$8.7) billion from its local investments, reflecting the Hang Seng Index’s jump and a rise of 21 per cent for the Hang Seng Tech Index.

The fund reported a loss of HK$2.8 billion from its overseas stock investments, compared with a year-earlier gain of HK$36.3 billion. The S&P 500 fell 4.6 per cent in the first quarter, its worst start to a year since the first three months of 2022. Analysts attributed the performance to worries about inflation and a possible recession in the US.