CTG DUTY-FREE (01880) experienced a sharp decline of more than 10%. At the time of writing, the stock was down 9.42%, trading at HKD 91.25, with a turnover of HKD 350 million. The drop follows an announcement from U.S. Customs and Border Protection stating that it will cease collecting tariffs levied under IEEPA effective 12:01 a.m. Eastern Time on Tuesday. This comes after the U.S. Supreme Court ruled these tariffs illegal. Former President Trump indicated he plans to impose a 15% global tariff, seeking to reinforce his trade agenda after the legal setback. It is noteworthy that in April of last year, China implemented countermeasures in response to U.S. tariff announcements. At that time, analysts noted that reciprocal tariff increases could widen the price gap between taxed and duty-free goods, potentially shifting sales of mid-to-high-end imported products toward duty-free channels. The recent U.S. court ruling has unsettled market sentiment, with investors closely watching for subsequent changes in international tariff policies.
Comments