China stocks slip as markets reopen to escalating US tensions

Moves were relatively muted, in what analysts saw as a sign of confidence over China’s efforts to maintain market stability and its ability to recover from the economic impact of the pandemic. The CSI 300 Index of stocks fell 0.5% as of 10:40 a.m. local time. The yuan weakened 0.4% to 7.090 per U.S. dollar while its offshore counterpart strengthened 0.26%.

"Market sentiment isn’t very badly affected by the verbal fight between China and the U.S.,” said Zhou Hao, an economist at Commerzbank AG in Singapore."The hope remains that China will commit to the trade deal. Also, it’s widely known that for Chinese officials, market stability is very important.” "I don’t expect to see a strong rally in A shares and the market is likely to stay range-bound,” said Ma Cheng, chairman at Shenzhen Juze Investment Management Co., adding that the main opportunities remained in specific sectors rather than the overall market.

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Dollar firm but stocks, oil under pressure as US-China tensions rise | Malay MailSINGAPORE, May 4 — The dollar rose, oil fell and stock markets were poised to slip today as rising US-China tensions over the coronavirus — and growing unease at the gulf between asset prices and grim economic reality — turned investors cautious. In thin trade, with China and Japan on...
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