U.S. President Donald Trump announced tariff rates for multiple economies and a 40% tariff on all tax-evading transshipped goods. The HSI opened 28 points lower, and briefly rose 83 points to peak at 24,856, before trending lower. Eventually, the HSI closed near its low at 24,507, down 265 points or 1.1%. The HSCEI dipped 78 points or 0.9% to 8,804. The HSTECH lost 55 points or 1% to 5,397. Market turnover totaled HKD254.674 billion.Meituan, Taobao Instant Commerce, Ele.me, and JD.com issued statements urging boycott to disorderly competition. BABA-W (09988.HK) +1.200 (+1.037%) Short selling $662.20M; Ratio 7.482% edged up 1%, MEITUAN-W (03690.HK) +0.600 (+0.493%) Short selling $1.89B; Ratio 27.601% gained 0.5%, and JD-SW (09618.HK) -0.200 (-0.163%) Short selling $256.67M; Ratio 14.094% dipped 0.2%. Logistics stocks advanced. ZTO EXPRESS-W (02057.HK) +11.300 (+7.439%) Short selling $373.43M; Ratio 22.619% swelled 7.4%, and J&T EXPRESS-W (01519.HK) +0.260 (+2.519%) Short selling $104.18M; Ratio 18.236% rallied 2.5%. China’s NDRC is coordinating measures, including law amendments, to address involution competition among private enterprises.Pharma stocks retreated. GENSCRIPT BIO (01548.HK) -0.580 (-3.376%) Short selling $38.38M; Ratio 8.809% fell off 3.4%; WUXI APPTEC (02359.HK) -4.000 (-3.784%) Short selling $577.63M; Ratio 37.655% , PHARMARON (03759.HK) -0.950 (-4.176%) Short selling $13.50M; Ratio 2.975% , HENGRUI PHARMA (01276.HK) -3.750 (-4.756%) , and INNOVENT BIO (01801.HK) -5.000 (-5.102%) Short selling $101.77M; Ratio 4.466% dived 3.8-5.1%. LUYE PHARMA (02186.HK) -0.350 (-8.140%) Short selling $13.57M; Ratio 2.274% slid 8.1%.Stablecoin concept stocks pulled back. GUOTAI JUNAN I (01788.HK) -0.690 (-10.781%) Short selling $62.81M; Ratio 2.480% plummeted 10.7% to HKD5.71, BRIGHT SMART (01428.HK) -2.920 (-19.783%) Short selling $40.19M; Ratio 2.440% slumped 19.8% to HKD11.84, and ZA ONLINE (06060.HK) -1.520 (-7.562%) Short selling $281.39M; Ratio 17.943% tumbled 7.6%.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.)