News Formal

China stocks surge as state swiftly steps in to support market

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

China's yuan strengthened, this comes just hours after the United States imposed a 25% tariffs on China.

HONG KONG: China’s stocks rallied as Beijing took steps to stabilise the market after the US imposed additional tariffs on the nation’s goods. The yuan strengthened.

“State-fund buying may be boosting financial stocks,” said Southeast Securities Beijing-based analyst Zhang Gang. “The brief slump at the reopen obviously reflected the latest tariff news.” Daily average turnover on domestic exchanges has been dwindling for five consecutive weeks, the longest such streak since late 2017.

Negotiations between Xi Jinping’s top trade envoy and his US counterparts in Washington were due to resume on Friday morning Washington time.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Disney parks lift earnings, 'Avengers: Endgame' streaming date announcedGrowth at Disney parks in the United States boosted results above analyst expectations.
Source: fmtoday - 🏆 5. / 72 Read more »