HK Stock Market Move | China Tourism Group Duty Free Corporation (01880) fell by more than 10% as the US tariffs were found to be illegal, causing market sentiment to be disrupted by changes in tariff policies.

China Tourism Group Duty Free Corporation (01880) plummeted by more than 10%, falling 9.42% to HK$91.25 as of the time of writing, with a turnover of HK$350 million. On the news front, the U.S. Customs and Border Protection announced that they will stop collecting tariffs based on the IEEPA starting at 12:01 am Eastern Time on Tuesday. Previously, the U.S. Supreme Court had ruled these tariffs as illegal. President Trump stated that he plans to impose a 15% global tariff, eager to uphold his trade agenda after facing setbacks in the Supreme Court. It is worth noting that last April, China retaliated against the U.S. government's announcement of "reciprocal tariffs." Haitong Cathay Pacific pointed out at the time that mutual tariff increases between China and the U.S. may widen the price gap between taxed and duty-free products, with sales of high-end imported goods expected to lean towards duty-free channels. The recent ruling of the U.S. tariff policy as unlawful has disrupted market sentiment, with market attention focused on the subsequent changes in tariff policies of various countries.