HONG KONG/SHANGHAI - Chinese stocks fell on Tuesday as the tariff war between Washington and Beijing escalated though losses were contained after conciliatory comments from U.S. President Donald Trump and amid suspected state-backed buying of equities.
Zhang Qi, analyst at Haitong Securities, said there was “buying of key stocks” by state-backed players, noting that “volume in morning trade is close to half of yesterday’s full session”. By midday, the Shanghai benchmark was down 0.4%, while the blue-chip CSI 300 index was down 0.2%. The smaller Shenzhen market was down 0.5%.
“The implementation of the new tariffs are three weeks away from now, and the talks have not collapsed,” Steven Leung, sales director at UOB Kay Hian in Hong Kong, said of the quick recovery in A-shares. “People are also speculating whether China will roll out more policy support measures.” Foreign investors took money off the table via the Stock Connect, also closed on Monday, selling a net 7.4 billion yuan worth of A-shares on Tuesday. They have sold more than 20 billion yuan worth of mainland shares via the Connect so far this month, snapping a five-month buying streak.
I think America has the advantage here.... we are a consumer based economy, and if prices get too high America has the ability to manufacture.
I live in Thailand and I must buy Chinese crap here. Salary 10 hours Thailand; 300 baht, aka $10 China; $15 per day any us in America pay 600% cost increase to make Chinese Billionaires. Buy a steel bucket, no plastic, wool from Montana, car parts USA, Veggies American, wake-up.
Indeed china z goona win ths game,, Intimidation wil never stop China
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