Stock Market News·2025-10-13 01:38Group 1: Trade Developments - President Donald Trump announced an additional 100% tariff on Chinese imports, effective November 1, 2025, escalating the ongoing trade war between the U.S. and China [2][9] - The tariff is a response to China's new export controls on critical rare earth minerals and software, indicating a significant shift in trade relations [2] Group 2: Market Reactions - The cryptocurrency market experienced its largest decline in 2025, with Bitcoin dropping by 8.4% to $104,782, resulting in an estimated $19 billion loss across the crypto market [3][9] - Asian equity markets are expected to suffer, with the Hang Seng Index projected to drop by 2.5% at market open, reflecting investor concerns [4][9] - Major Chinese technology companies, including Alibaba and Tencent, are anticipated to see significant declines in Hong Kong trading [4][9] - China Vanke shares are forecasted to fall by as much as 4.6% following the resignation of its chairman, impacting the real estate sector [4][9] Group 3: Central Bank Actions - The People's Bank of China injected 137.8 billion Yuan into the market through 7-day reverse repos at a rate of 1.40%, aiming to stabilize the financial system amid trade uncertainties [5][9] - The central bank fixed the USDCNY reference rate at 7.1007, a stronger fixing than the previous rate of 7.1048, indicating efforts to support the yuan [5][9] Group 4: Geopolitical Context - Canadian Prime Minister Mark Carney participated in a Gaza Peace Summit in Egypt, highlighting ongoing geopolitical developments [6][9] - France's newly appointed Prime Minister Sebastien Lecornu unveiled his cabinet amid domestic political turmoil, which has affected French bond futures and the euro [6][9]