{"id":58942,"date":"2026-02-22T23:38:35","date_gmt":"2026-02-23T03:38:35","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/"},"modified":"2026-02-22T23:38:35","modified_gmt":"2026-02-23T03:38:35","slug":"global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/","title":{"rendered":"Global Markets: Hang Seng Tech Surges 4% as Trump Unveils &#8216;Tech Corps&#8217; and Citigroup Expands in Chicago"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/#Asian_Markets_Rally_on_Tariff_Relief\" >Asian Markets Rally on Tariff Relief<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/#Trump_Launches_Tech_Corps_to_Counter_China\" >Trump Launches &#39;Tech Corps&#39; to Counter China<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/#Citigroup_Targets_Midwest-Korean_Investment\" >Citigroup Targets Midwest-Korean Investment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/#Canadian_Dollar_Supported_by_Crude_Oil\" >Canadian Dollar Supported by Crude Oil<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-hang-seng-tech-surges-4-as-trump-unveils-tech-corps-and-citigroup-expands-in-chicago\/58942\/#Fitch_Upgrades_Southland_Building_Society\" >Fitch Upgrades Southland Building Society<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Hong Kong\u2019s tech sector surged 4%<\/strong>, led by the <strong>Hang Seng Tech Index<\/strong>, as investors reacted to the <strong>U.S. Supreme Court<\/strong> striking down sweeping trade tariffs.<\/li>\n<li><strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> officially launched the <strong>\u2018Tech Corps\u2019<\/strong>, a revamped, AI-focused branch of the <strong>Peace Corps<\/strong> aimed at deploying <strong>5,000 STEM graduates<\/strong> to counter Chinese technological influence.<\/li>\n<li><strong>Citigroup (<a href=\"\/stock\/C\">C<\/a>)<\/strong> expanded its global footprint by opening a dedicated <strong>Citi Korea Desk in Chicago<\/strong> to support South Korean firms investing in the <strong>U.S. Midwest manufacturing hub<\/strong>.<\/li>\n<li>The <strong>Canadian Dollar (CAD)<\/strong> stabilized above <strong>1.3650<\/strong> against the Greenback, bolstered by <strong>geopolitical risk premiums in crude oil<\/strong> despite ongoing <strong>tariff uncertainty<\/strong> in Washington.<\/li>\n<li><strong>Fitch Ratings<\/strong> upgraded the long-term Issuer Default Rating (IDR) of <strong>Southland Building Society (SBS Bank)<\/strong> to <strong>&#39;BBB+&#39;<\/strong> with a <strong>stable outlook<\/strong>, citing improved capital buffers.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Asian_Markets_Rally_on_Tariff_Relief\"><\/span>Asian Markets Rally on Tariff Relief<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hong Kong equities saw a major relief rally on Monday, with the <strong>Hang Seng Tech Index<\/strong> surging <strong>4%<\/strong>. The jump followed a landmark <strong>U.S. Supreme Court<\/strong> decision to overturn several broad tariffs previously imposed under the <strong>International Emergency Economic Powers Act (IEEPA)<\/strong>.<\/p>\n<p>Major tech heavyweights led the advance, including Meituan (<a href=\"\/stock\/3690\">3690<\/a>), which climbed over <strong>6%<\/strong>, and <strong>SMIC (<a href=\"\/stock\/981\">981<\/a>)<\/strong>, which rose <strong>5%<\/strong>. <em>Analysts suggest that the easing of valuation pressures and the accelerating adoption of AI applications are creating a favorable rebound environment for Chinese tech giants.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Trump_Launches_Tech_Corps_to_Counter_China\"><\/span>Trump Launches &#39;Tech Corps&#39; to Counter China<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a significant shift for U.S. soft power, the <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> administration has launched the <strong>\u2018Tech Corps\u2019<\/strong>, an initiative described as an &quot;AI-revamp&quot; of the <strong>Peace Corps<\/strong>. Reported by <strong>CNBC<\/strong>, the program intends to deploy <strong>5,000 American science and math graduates<\/strong> over the next five years to partner nations.<\/p>\n<p>The initiative is designed to promote the adoption of <strong>U.S.-made AI hardware and software<\/strong> in the Global South, directly competing with China\u2019s digital infrastructure exports. <em>By embedding technical experts in developing markets, Washington aims to establish &quot;AI sovereignty&quot; for its partners while reducing reliance on Chinese large-language models.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Citigroup_Targets_Midwest-Korean_Investment\"><\/span>Citigroup Targets Midwest-Korean Investment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Citigroup (<a href=\"\/stock\/C\">C<\/a>) has announced the opening of a new <strong>Citi Korea Desk in Chicago<\/strong>, marking its second such specialized hub in the United States. The desk will provide on-the-ground financial services to South Korean corporations expanding into the <strong>U.S. Midwest<\/strong>, particularly those in the <strong>electric vehicle (EV)<\/strong> and <strong>semiconductor<\/strong> sectors.<\/p>\n<p>This expansion follows a period of rapid growth for Korean firms in the U.S., including major projects in <strong>Texas<\/strong> and the <strong>Midwest<\/strong>. The Chicago desk will work in tandem with Citi\u2019s <strong>Seoul headquarters<\/strong> to manage cash flows and mitigate financial risks for subsidiaries operating in the American manufacturing belt.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Canadian_Dollar_Supported_by_Crude_Oil\"><\/span>Canadian Dollar Supported by Crude Oil<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>Canadian Dollar<\/strong> drifted higher, maintaining a position above the <strong>1.3650<\/strong> level against the U.S. Dollar. While <strong>President Trump<\/strong> recently proposed a new <strong>15% global levy<\/strong> following his Supreme Court setback, the &quot;Loonie&quot; found support in the energy markets.<\/p>\n<p><strong>U.S. West Texas Intermediate (WTI)<\/strong> crude futures hovered near <strong>$65.74 per barrel<\/strong>, supported by persistent geopolitical tensions in the Middle East. <em>While tariff rhetoric continues to create volatility, Canada\u2019s status as a major oil exporter remains a critical tailwind for the currency&#39;s near-term resilience.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fitch_Upgrades_Southland_Building_Society\"><\/span>Fitch Upgrades Southland Building Society<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Fitch Ratings<\/strong> has raised the long-term Issuer Default Rating (IDR) of New Zealand\u2019s <strong>Southland Building Society (SBS Bank)<\/strong> to <strong>&#39;BBB+&#39;<\/strong> from &#39;BBB&#39;. The upgrade is accompanied by a <strong>stable outlook<\/strong>, reflecting the institution&#39;s strengthened financial profile and consistent operating performance.<\/p>\n<p>The agency noted that the upgrade was driven by the bank&#39;s <strong>robust capitalization<\/strong> and its ability to maintain asset quality despite a competitive lending environment. <strong>SBS Bank<\/strong> continues to leverage its member-bank model to drive growth in residential lending and consumer finance across New Zealand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Hong Kong\u2019s tech sector surged 4%, led by the Hang Seng Tech Index, as investors reacted to the 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