China stocks dip after three-day winning streak
SHANGHAI: China stocks fell after three days of gains, as investors digested economic data and sought direction amid easing U.S.-China trade tensions. Hong Kong shares also edged down.
China's blue-chip CSI300 Index dropped 0.6% by the lunch break, while the Shanghai Composite Index lost 0.4%. Hong Kong's benchmark Hang Seng was down 0.3%.
China's new bank loans tumbled more than expected in April as a protracted trade war with the United States further eroded the market's appetite during a typically slow month for loan demand.
Meanwhile, China paused some non-tariff measures taken against 17 U.S. entities put on its unreliable entity list in April and 28 U.S. entities on its export control list, the commerce ministry said.
Chinese stocks have recovered all their losses, triggered by U.S. President Donald Trump's punitive tariff measures imposed on April 2.
Artificial intelligence and defence shares traded onshore fell 1.9% and 1.5%, respectively.
Financial shares lift China and HK shares
Maritime shipping and ports stocks jumped as trade tensions between the world's two largest economies de-escalated, with shares of Nanjing Port and Lianyungang Port up to a daily maximum of 10%.
Tencent shares edged down 0.5% despite its first-quarter revenue beating expectations.
Investors were awaiting Alibaba's earnings reports, which will be released later in the day.
China cut the amount of cash that banks must hold as reserves, known as the reserve requirement ratio, by 50 basis points on Thursday. State media Securities Daily said there is more room for such cuts in the rest of the year, citing economists.
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Express Tribune
an hour ago
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Newer world order in Trump era — and Pakistan
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The recent China-Pakistan-Afghanistan tripartite meeting and PM Shehbaz Sharif's visit to Turkiye, Iran and Azerbaijan — aimed at conveying gratitude for their support during the Indian aggression, reaffirming the closer relation and expanding the ties to make the mutually beneficial friendship even stronger — is a step in right direction. The warm welcome and pleasant exchanges reflect mutual desires to strengthen the exiting bonds. The second tripartite meeting held between Pakistan, Turkiye and Azerbaijan at Lachin in Azerbaijan further manifests the growing understanding between Pakistan and the regional countries. The PM and his delegation also visited Tajikistan to strengthen the bilateral cooperation in multifaceted areas. Russia and Pakistan are getting closer too, which is being seen as a very positive development. Pakistan has sent delegations to various countries of the world to forge an understanding in the comity of nations to communicate Pakistan's position on perpetuating Indian arrogance and aggressiveness as against Pakistan's desire for enduring peace and stability in the region. Pakistan has been making efforts to develop good relations with all the neighbours, including India. Unfortunately, Indian intransigence remained a hurdle. The impasse seems to have been broken by the short but intense May 2025 War, imposed on Pakistan by the rash Indian leadership, and the ceasefire sought by India through the US. President Trump has expressed his willingness to help resolve the Kashmir dispute by convening a Pakistan-India meeting in some third country — something that is being considered a silver lining. The global milieu engenders quest to forge peace and enhance trade instead of war. Pakistan should continue trying to avoid conflicts and have good relations with all the countries, including India. The US president's promise of mediation must be pursued for resolution of the Kashmir dispute, reversal of Indian announcement of holding IWT in abeyance and restoration of special status of IIOJK. Very good relations with China, the US, the UK, EU, Gulf states, Turkiye, Afghanistan and Iran warrant added focus by Pakistan. Connectivity is the way forward for mutually beneficial socio-economic development and societal emancipation.
Business Recorder
4 hours ago
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Rupee registers marginal decrease against US dollar
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Business Recorder
5 hours ago
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European stocks flat as investors await outcome of US-China talks
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