HK Stock Market Move | KLN (00636) once rose more than 11% due to the easing of the trade tensions between China and the United States. The company's IFF business is mainly focused on the Pacific route.

KLN (00636) rose by over 11% at one point, and as of the time of writing, it has risen by 6.53% to 7.5 Hong Kong dollars, with a trading volume of 40.3323 million Hong Kong dollars. On the news front, on the afternoon of May 12th, a joint statement was released following the China-US Geneva economic and trade talks, announcing that China and the US have reached consensus on high-level economic and trade talks, significantly reducing bilateral tariff levels. Both China and the US have canceled 91% of tariffs and suspended the implementation of 24% of tariffs. Minsheng Securities pointed out that the trade talks between China and the US in Switzerland this week once again brought a "surprise" to the market, with the most significant aspect being the extent of tariff cancellations/suspensions. The US did not "discriminate" against China, and the level of new tariffs imposed within 90 days this year has decreased from 145% to 30%, with the possibility of further reducing the 20% fentanyl tariff. The company previously announced that the English abbreviation for trading its shares on the Stock Exchange will be changed to "KLN," while the Chinese abbreviation "KLN" will be removed, effective from 9:00 AM on April 29th. Citibank previously pointed out that KLN's international freight forwarding (IFF) business primarily focuses on The Pacific route, therefore, the implementation of tariffs may have a negative impact on the company's IFF business volume. DBS also stated that KLN's extensive Southeast Asian network will benefit from the "China + 1" strategy, while the synergies with S.F. Holding will strengthen, driving long-term growth.