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Indonesia News Portal for Traders | Financial & Business Updates

26 November 2024 15:06  |

China Stocks Dip as Trump Threatens Additional Tariffs

Chinese stocks slid on Tuesday, with the Shanghai Composite down 0.12% to close at 3,260 and the Shenzhen Component falling 0.84% to 10,333.

The decline marked the fourth consecutive session of losses as US President-elect Donald Trump vowed to impose an additional 10% tariff on all imports from China. However, the losses were somewhat limited as Trump's rhetoric softened from his previous campaign promise of a 60% tariff on Chinese goods.

High-growth technology and new energy stocks led the downturn, with notable declines from 360 Security Technology (-10%), Guangdong Dongfang (-10%), and Contemporary Amperex (-2.8%). In corporate news, Fitch Ratings maintained a neutral outlook on the Asia-Pacific securities sector, which includes Chinese securities firms, noting potential upside from fixed-income revaluations in light of expected domestic rate cuts. Among securities stocks, Everbright Securities rose 3%, while Citic Securities gained 0.2%.

Source : Trading Economics

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