China rare earth firms' stocks soar on trade war speculation

SHANGHAI - Shares in rare earth-related companies in China soared on Tuesday, a day after Chinese President Xi Jinping visited a rare earth firm in southern China, sparking speculation the sector could be the next front in the Sino-U.S. trade war.

Beijing, however, has raised tariffs on imports of U.S. rare earth metal ores from 10 percent to 25 percent from June 1, making it less economical to process the material in China. Shares in JL MAG Rare-Earth Co Ltd surged the maximum limit of 10% on Monday following Xi’s visit, and rose another 10% on Tuesday.

Rare Earth huh...

So how many shares in these companies does Trump own as he plays with the stock market. Trump refuse to divest he refuses to release his finances. Trump has received fines from the SEC in the past for using the media and lies to increase stock prices of shares he owned then sell

Flags on the moon, Operating systems without US back doors, now rare earth. Poor Trump must be tweeting his lttle heart out trying to keep up

Will their sales increase in the event of a trade war Are you making this up

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Source: Reuters - 🏆 2. / 97 Read more »