SGALIBA@EC2612D

Hang Seng Tech Index tumbled over 4% intraday, dragged down by Alibaba’s 8.5% plunge, which soured sentiment across the entire sector.

Poor Minimax (-10.1%) and Z.AI (-10.8%) also got hit hard, both down double digits today😭

apart from the US Canada fall out, it was relatively quiet over the weekends, and it felt like the lack of substantial news affected the markets today. like to see what sanctions will be imposed on Iran, and how they will be perceived by the markets.

The tariff escalation increases the risk of a broader US-Canada trade conflict, raising costs for businesses and potentially adding inflationary pressure. Canada’s planned retaliation could further disrupt cross-border supply chains and weaken business confidence. The immediate market reaction reflects higher uncertainty, particularly as rising Treasury yields already pressure equity valuations. While the affected goods represent a relatively small share of total bilateral trade, prolonged tensions could weigh on growth, corporate margins and investor sentiment if negotiations remain stalled.