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Hong Kong Stock Rally Triggers Cash Squeeze Among Banks

(Bloomberg) -- Surging demand for Hong Kong equities sapped interbank liquidity in the city, prompting local banks to borrow the largest amount of overnight cash from authorities in more than five years on Tuesday.Most Read from BloombergWhy Barcelona Bought the Building That Symbolizes Its Housing CrisisSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsPor qué Barcelona compró el edificio que simboliza su crisis inmobiliariaTrump Child Refugee Agency Shares Data With Immigration Enfor

Morning Bid: Markets becoming numb to tariff vows

U.S. President Donald Trump said sectoral tariffs on pharmaceuticals and semiconductor chips would start at "25% or higher, and it will go very substantially higher over the course of a year." Trump, the self-declared "tariff man," had been telegraphing his intentions of imposing tariffs for months, so some of the news may have been priced in.