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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.

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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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      US Exits WHO, Citing COVID Failures and Sovereignty

      Isaac Bennett
      Daily NewsPoliticalRemarks of Officials
      Summary:

      The Trump administration formally withdrew the U.S. from the WHO, citing COVID-19 failures and an 'America First' policy.

      The United States has officially withdrawn from the World Health Organization (WHO), a move the Trump administration says fulfills a key promise to prioritize American interests over globalist institutions.

      In a joint statement on January 22, Secretary of State Marco Rubio and Health and Human Services Secretary Robert Kennedy, Jr. confirmed the exit. "Today, the United States withdrew from the World Health Organization, freeing itself from its constraints," they announced, adding that the decision "responds to the WHO's failures during the COVID-19 pandemic and seeks to rectify the harm from those failures inflicted on the American people."

      An "America First" Approach to Global Treaties

      This withdrawal is consistent with the administration's broader policy of re-evaluating U.S. membership in international bodies. President Trump and many conservatives have long argued that such organizations can undermine U.S. sovereignty and work against national interests.

      This policy has led to several high-profile exits, including:

      • The withdrawal from the Paris Accord on climate change in January 2025.

      • A mass withdrawal from 66 U.N.-sponsored organizations on January 7, including the U.N. Framework Convention on Climate Change.

      A White House statement specifically blamed the WHO for its "mishandling of the COVID-19 pandemic that arose out of Wuhan, China," as well as its failure to implement necessary reforms and its lack of independence from political influence.

      The Mechanics of the Withdrawal

      An executive order dated January 20 formally triggered the exit, directing an immediate halt to all U.S. funding for the WHO and the recall of all official U.S. representatives to the U.N. health agency.

      Under the original terms of membership, a country must provide one year's notice to leave. The Trump administration fulfilled this requirement by giving notice upon taking office in 2025.

      Another condition for withdrawal is the payment of all outstanding dues. The U.S. currently owes the WHO $278 million for 2024 and 2025. However, the Trump administration has made it clear it will not be making any further payments.

      "The American people have paid more than enough," a State Department spokesperson stated on Thursday.

      WHO's Contested Response

      The World Health Organization has not officially accepted America's withdrawal. When the initial notice was given in 2025, the organization stated that it "regrets the announcement" and highlighted its "crucial role in protecting the health and security of the world's people, including Americans."

      The dispute has become symbolic. According to Rubio and Kennedy, "The WHO refuses to hand over the American flag that hung in front of it, arguing it has not approved our withdrawal and, in fact, claims that we owe it compensation."

      Reversing Previous Policy

      This move marks a sharp reversal from the previous administration's stance. President Trump first attempted to withdraw the U.S. from the WHO in 2020, but President Joe Biden reversed the decision upon taking office in 2021.

      The Biden administration had also actively supported new WHO initiatives, including the Pandemic Agreement and updated International Health Regulations. These measures were designed to grant the WHO new powers to set policy for member nations during health emergencies. Trump's executive order explicitly withdraws the U.S. from these negotiations, stating the agreements "will have no binding force on the United States."

      A Decades-Long Partnership Ends

      The WHO was founded in 1948, and the United States joined the same year after a joint resolution of Congress was signed by President Harry Truman. Before the U.S. departure, the organization had 194 member nations.

      As a member, the United States was the WHO's largest financial contributor, required to fund 22% of its budget. Between 2012 and 2024, U.S. contributions averaged $237 million annually.

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