Trump is Back. What's his next move?

Trader’s Edge wrote a column · Nov 26, 2024 10:37

Trump's antics has finally started.

In a surprising announcement, Trump has announced an increase in Tariffs on China, Mexico and Canada.

He will be looking to sign this into effect on his first day in office.

In a show of defiance, both $HSI Futures(FEB5) (HSImain.HK)$ and $Hang Seng TECH Index (800700.HK)$ ticked higher and added +0.63% and +0.50% respectively.

Some stocks to consider that exports heavily to US would be:

1. BABA US $Alibaba (BABA.US)$ - Consumer goods

2. BYD (1211 HK) $BYD COMPANY (01211.HK)$ - EV and lithium batteries

3. Tencent (700 HK) $TENCENT (00700.HK)$ - No physical products but mostly through the sales of online and mobile games

4. Xiaomi (1810 HK) $XIAOMI-W (01810.HK)$ - Smartphones and Household products

It still remains to be seen if Trump will follow through with his actions when he takes office in January. Along the same vein, investors should also take note that his secretary of Treasury, Scott Bessent is known to encourage the imposition of Tariffs.

Stay informed my friends!

Prepared by:

Moomoo Singapore

Isaac Lim CMT, CFTe
Chief Market Strategist

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