Hang Seng ETFs Lead Global Equity Funds; Trump's Tariffs Impact Markets; Musk Assures Starlink for Ukraine

Hang Seng ETFs have delivered a 38.93% return this year, outperforming global equity funds. Alibaba's Hong Kong-listed shares surged 74% in 2025, driven by strong earnings, government support, and AI advancements. In the US, Wall Street experienced volatility due to economic uncertainty and President Trump's tariff policies. The Dow Jones Industrial Average rose 0.52% on Friday, closing at 42,801.72. The S&P 500 gained 0.55% to reach 5,770.20, and the Nasdaq Composite increased by 0.70% to 18,196.22. However, for the week, the Nasdaq fell 3.10%, the Dow Jones dropped 2.37%, and the S&P 500 declined 3.45%. Elon Musk stated on X that he will not cut off Starlink access to Ukraine, despite President Trump's order to halt military aid and information sharing. Musk emphasized Starlink's critical role in maintaining Ukrainian networks. Polish Foreign Minister Radoslaw Sikorski mentioned Poland pays approximately $50 million annually for Starlink services in Ukraine. Musk responded that Poland pays a small portion of the cost and that there is no substitute for Starlink.