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Risk Warning on Trading HK Stocks

Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.

HK Stock Trading Fees and Taxation

Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.

HK Non-Essential Consumer Goods Industry

The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.

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In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.

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      Russia's Oreshnik Missile: A New Hypersonic Threat

      King Ten
      Remarks of OfficialsRussia-Ukraine ConflictDaily NewsPolitical
      Summary:

      Russia's deployment of the advanced Oreshnik hypersonic missile in Ukraine signals a serious escalation, raising questions about its capabilities and strategic intent.

      Russia announced on Friday it had fired an Oreshnik missile at Ukraine, deploying one of its most advanced weapons in the ongoing conflict. This strike marks a significant escalation and raises questions about the missile's capabilities and the strategic intent behind its use.

      The Russian Defence Ministry released this image showing the deployment of an Oreshnik hypersonic missile system in Belarus.

      What Is the Oreshnik Missile System?

      The Oreshnik, which translates to "Hazel Tree," is an intermediate-range hypersonic ballistic missile. Its recent use targeted what Russia described as critical infrastructure in Ukraine.

      This is not the first time the Oreshnik has been used in the conflict. In November 2024, Russia launched the missile in what Ukrainian sources described as a test flight carrying only dummy warheads, which resulted in limited damage. If the latest attack involved live explosive payloads, it would signify the first time Russia has used the Oreshnik with its full destructive intent. The extent of the damage from this strike was not immediately clear.

      Key Features of the Hypersonic Weapon

      The Oreshnik is distinguished by several advanced capabilities, some of which are more commonly found on intercontinental ballistic missiles (ICBMs).

      • Multiple Warheads: Experts highlight its novel ability to carry several warheads capable of striking different targets simultaneously.

      • ICBM Origins: The weapon is based on the RS-26 Rubezh, a system originally developed by Russia as an intercontinental missile.

      • Dual-Use Capability: The Oreshnik can be armed with either conventional or nuclear warheads, though there was no suggestion the recent attack involved a nuclear component.

      • Extreme Speed: Data from the 2024 launch indicated the missile reached its target in approximately 15 minutes after being fired from southern Russia, achieving a speed of about 13,600 kph (8,450 mph).

      Putin's Claims vs. Western Analysis

      Russian President Vladimir Putin has claimed the Oreshnik is impossible to intercept and that its destructive power is comparable to a nuclear weapon, even when fitted with a conventional warhead.

      However, some Western experts have suggested these claims are exaggerated. In December 2024, a U.S. official called the weapon experimental and not a battlefield game-changer, adding that Russia likely possessed only a handful.

      Since 2024, Russia has reportedly moved the Oreshnik into serial production and has also supplied the system to its ally, Belarus.

      The Strategic Context Behind Russia's Latest Strike

      The Russian military stated that it fired the Oreshnik in response to what Moscow alleged was an attempted Ukrainian drone attack late last year on one of Putin's residences in Novgorod. Ukraine has denied that any such attack took place.

      Putin had previously threatened to use the Oreshnik, including against "decision-making centres" in Kyiv, if Ukraine continued to attack Russian territory with long-range Western weapons. The overnight attack targeted the Lviv region of western Ukraine, which borders NATO member Poland. Ukraine's foreign minister called the launch a "global threat" that demanded a global response.

      This military escalation comes as U.S. President Donald Trump is struggling to persuade Russia and Ukraine to agree to a peace deal to end the war, which began in February 2022.

      Risk Warnings and Investment Disclaimers
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