HK Stock Market Move | POP MART(09992) surges over 5% in early trading, Apple CEO Cook makes an appearance at Shanghai POP MART. Morgan Stanley says company's impact from tariffs is low.

POP MART (09992) rose more than 5% in the early trading session, and as of the time of writing, it had risen by 4.6% to 273 Hong Kong dollars, with a trading volume of 1.343 billion Hong Kong dollars. On the news front, on the afternoon of October 13th, Apple CEO Tim Cook appeared at THE MONSTERS 10th Anniversary Exhibition in Shanghai, which was Cook's first stop during his visit to China. At the exhibition, POP MART founder Wang Ning, LABUBU artist Long Jiasheng, and Cook had a close interaction, touring the original hand-drawn LABUBU series and a diverse range of products. Long Jiasheng demonstrated to Cook how to draw LABUBU on the iPad Pro, and Wang Ning also presented Cook with a surprise gift - the LABUBU chieftain ZIMOMO. In addition, Morgan Stanley published a research report, predicting that POP MART would be less impacted by tariffs, with a rating of "hold". Considering the progress of the China-US trade negotiations so far this year, the bank believes that POP MART's impact is relatively low. As around 75 to 80% of toy imports to the US come from China, even if these toys were subjected to higher tariffs, it would not change the company's relative advantage.