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Core Viewpoint - The recent US-China Geneva trade talks have led to significant market reactions, with major stock indices in Hong Kong and the US experiencing substantial gains, indicating a positive market sentiment towards the trade discussions [1][4]. Group 1: Market Reactions - Following the joint statement from the US-China trade talks, Hong Kong's Hang Seng Index rose by 2.98%, and the Hang Seng Tech Index increased by over 5%, reflecting strong market optimism [1]. - US stock index futures also rose, alongside increases in US Treasury yields and the US dollar index, indicating a broad market response to the trade developments [1][4]. Group 2: Trade Policy Adjustments - The adjustment of tariffs exceeded market expectations, with a significant reduction in tariffs providing a boost to market risk appetite and potentially aiding in the recovery of domestic economic performance and corporate profitability [3][4]. - The joint statement emphasized a return to "non-discriminatory tariffs," aligning US tariffs on China with those on other economies, which is seen as a strategic move to stabilize the US economy and avoid further disruptions [4][5]. Group 3: Sector Impacts - The easing of tariffs is expected to directly benefit foreign trade-related industries, particularly in sectors such as machinery, lithium batteries, and transportation, which are poised for a short-term recovery [7][8]. - Investment opportunities are anticipated in export-oriented sectors, including consumer electronics, components, machinery, and automotive parts, as these industries are likely to experience improved performance due to the tariff adjustments [9][11]. Group 4: Long-term Trends - In the medium to long term, there is a focus on technology self-sufficiency and new productive forces, with significant attention on sectors such as AI, innovative pharmaceuticals, and advanced manufacturing materials [10][11]. - The ongoing emphasis on strengthening domestic technological capabilities is viewed as essential for enhancing China's international standing and economic resilience [11].