Export-related stocks generally weakened across the board. As of press time, TECHTRONIC IND (00669) declined 3.64% to HK$91.3; HAIER SMARTHOME (06690) fell 3.38% to HK$24.56; SHENZHOU INTL (02313) dropped 1.71% to HK$63.15; and CHERVON (02285) decreased 1.04% to HK$20.84.

On the news front, Trump announced on social media on October 10th that the United States would impose an additional 100% tariff on Chinese goods starting November 1st, along with implementing export controls on critical software. A Citi report noted uncertainty regarding the duration of this policy, but related stocks may experience volatility during this period. However, the degree of fluctuation should be lower than during the second quarter of 2025 when the U.S. implemented retaliatory tariffs, as the new tariffs only apply to manufacturers directly exporting from China to the United States.

The report indicated that among Chinese exporters, Citi's individual stock preference order is TECHTRONIC IND > SHENZHOU INTL > Stella, considering the Federal Reserve's rate-cutting cycle and their extremely low proportion of Chinese imports in U.S. sales.