HK Stock Market Move | Apple concept stocks are among the top gainers, while Trump's 25% additional tariffs on India directly impacts Apple's manufacturing strategy in India.

Apple concept stocks lead the gains, as of press time, COWELL(01415) rose by 9.91% to HK$29.94; FIT HON TENG(06088) rose by 9.21% to HK$3.32; SUNNY OPTICAL(02382) rose by 5.65% to HK$78.45; AAC TECH(02018) rose by 4.51% to HK$44.94. On the news front, US President Trump signed an executive order on the 6th, imposing an additional 25% tariff on Indian products imported to the US based on the reason of "directly or indirectly importing Russian oil". The tariff policy may directly affect Apple's manufacturing strategy in India. According to Canalys data, due to the risk of trade friction, suppliers continue to stock up ahead of time, and US smartphone shipments grew by 1% in the second quarter of 2025. The proportion of US smartphones assembled in China dropped from 61% in the second quarter of 2024 to 25% in the second quarter of 2025. India has made up for most of this decline, with the total shipments of "Made in India" smartphones growing by 240% year-on-year, accounting for 44% of total US smartphone imports, compared to only 13% in the second quarter of 2024. In addition, Apple's performance in the third quarter of the 2025 fiscal year was impressive, with total revenue reaching $94.04 billion, a year-on-year increase of 10%, marking the strongest quarterly revenue growth since December 2021; net profit was $23.434 billion, a year-on-year increase of 9%, with diluted earnings per share of $1.57, a year-on-year increase of 12%. It is worth noting that Apple's revenue in the Greater China region during the period was $15.369 billion, a year-on-year increase of 4%, indicating a slight recovery in the Chinese market.