The stock prices of Macau’s six concessionaires all nosedived by more than 10% on Monday as the Hong Kong Stock Exchange fell sharply in response to US President Donald Trump’s new tariff policy.
Trump’s so-called “Liberation Day”, announced on 2 April, include a 34% increase in tariffs on China, which will take effect on 9 April.
Impacted by the news, Hong Kong’s stock market opened Monday with a plunge of 2,119 points, or nearly 9%, with the decline gradually widening throughout the day. The market eventually closed down 3,021 points, or 13%, at 19,828 points in the afternoon. This was the biggest one-day point drop in the Hong Kong stock market since records began, with local media dubbing it “Black Monday”.
