China Stocks Slip on Trump Tariff Fears
The Shanghai Composite declined 0.15% to 3,240, while the Shenzhen Component dropped 0.2% to 10,240 on Tuesday, snapping a three-day rally. The pullback came after US President Donald Trump mentioned China in his comments about potential tariffs, though he did not provide further details.
His remarks disappointed traders who had hoped he would delay imposing new tariffs, overshadowing a recent phone call between Xi Jinping and Trump that initially raised hopes of easing tensions between the two countries.
Meanwhile, China’s central bank kept its loan prime rates unchanged for the third consecutive month in January, although markets anticipate a reduction in banks' reserve requirements soon. Notable losses were seen in Leo Group (-4.7%), Greatoo Intelligent (-6.7%), and Suzhou TFC Optical (-1.7%).
Source : Trading Economics