Hong Kong Stock Movement | China Duty Free (01880) drops over 9% again, down more than 20% over three days. Institutions say the stock price has already reflected Hainan duty-free's impressive performance.

CNBC Finance APP learns that China Duty Free (01880) dropped over 9% again, with a decline of more than 20% over the past three trading days. As of press time, it fell 9.25% to HKD 83.35, with a trading volume of HKD 489 million.

According to Haikou Customs, during the first five days of the Spring Festival holiday (February 15-19), the offshore duty-free shopping amount in Hainan reached 1.38 billion yuan, with 177,000 shoppers, representing a 19% and 24.6% increase respectively compared to the same period last year. Credit Suisse released a research report stating that consumption at Hainan duty-free stores remains resilient under stronger promotional activities and policy-driven incremental demand, but much of this has already been reflected in China Duty Free’s stock price.

Notably, on the 20th, the U.S. Supreme Court announced a ruling that the U.S. International Emergency Economic Powers Act does not authorize the President to impose large-scale tariffs. Trump stated he plans to implement a 15% tariff globally. The international community criticized U.S. tariff policies for increasing global trade uncertainty. Analysts point out that the U.S. tariff policy was found to be illegal, disturbing market sentiment, and markets are now paying attention to subsequent changes in tariffs by various countries.