Key Points:Hang Seng Index retreats as US-China tariff uncertainties and weak China PMIs weigh on EV and tech stocks.BYD and Li Auto shares fall on EV oversupply concerns and reports of ‘zero mileage’ used car exports.PMI data shows China’s manufacturing remains in contraction, with export orders down for 14 straight months.Trade Developments Overshadow Fed Rate Cut Bets—Will the US and China Drop Tariffs?The US Personal Income and Outlays Report bolstered bets on a Q3 Fed rate cut despite infla