Hong Kong Stock Movement | Techtronic Industries (00669) surged over 5% intraday. Citigroup says tariff rulings are positive for Chinese exporters. Morgan Stanley is optimistic about the electric tool industry's return to growth.

2026-02-23 13:02:26

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Zhitong Finance APP learned that Techtronic Industries (00669) rose over 5% intraday. As of the latest report, it increased by 3.84% to HKD 124.3, with a trading volume of HKD 912 million.

On the news front, the U.S. Supreme Court announced that several tariffs implemented by the Trump administration are invalid. Subsequently, Trump raised global tariffs to 15% for 150 days. Citi believes this ruling is generally positive for most Chinese exporters because their U.S. customers now need to pay higher equivalent tariffs, which are not the additional 15% tariffs imposed under Section 122. Therefore, companies with higher U.S. sales should benefit more. Citi is optimistic about Techtronic Industries.

Previously, JPMorgan released a research report stating that the power tools industry is re-entering a growth trajectory, driven by normalization of supply chain and inventory adjustments, a more favorable interest rate cycle, and company-specific catalysts. Regarding Techtronic Industries, the bank expects Milwaukee brand revenue growth to accelerate again due to rapid expansion of the overall market. Additionally, after exiting the Walmart HART brand, the company will refocus on consumer business, especially the Ryobi brand under The Home Depot.

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