Latest news with #CSI300
Business Recorder
17 hours ago
- Business
- Business Recorder
China, HK shares drop on US tariff concerns
HONG KONG: Chinese stocks fell on Friday as shares of Apple suppliers weakened after a US court reinstated President Donald Trump's tariffs, while automakers extended losses amid ongoing price war concerns. China's blue-chip CSI 300 index closed 0.5% lower and registered its second week of loss. The Shanghai Composite index also dropped 0.5% to 3,347.49 points. The Hang Seng China Enterprises Index fell 1.5% and Hong Kong's benchmark Hang Seng Index lost 1.2%. Both the indexes snapped their six-week winning streaks. 'Sentiment dropped further amid lower turnover and lukewarm macro prints,' Laura Wang, Chief China Equity Strategist at Morgan Stanley wrote in a note on Friday. 'No signs of near-term stimulus step-up as the interim tariff truce continues.' A federal appeals court on Thursday temporarily reinstated the most sweeping of US President Donald Trump's tariffs, a day after a trade court blocked them, saying the president exceeded his authority. The CSI Consumer Electronics Thematic Index lost 2%. Apple iPhone assembler Foxconn lost 3.9%, BYD Electronics tumbled 6% and Lens Tech weakened 3.4%. Auto shares continued their downward trend as price war concerns lingered. Shares of Xpeng, BYD and Nio slipped by 3.3% to 5%. Cushioning the losses, the CSI Banks Index advanced 0.6% after news that People's Bank of China (PBOC) Governor Pan Gongsheng will attend the opening ceremony of the Lujiazui Forum in Shanghai next month and announce several major financial policies.
Time of India
a day ago
- Business
- Time of India
China, HK shares drop on US tariff concerns, auto makers tumble
Chinese stocks fell on Friday as shares of Apple suppliers weakened after a U.S. court reinstated President Donald Trump's tariffs, while automakers extended losses amid ongoing price war concerns. China's blue-chip CSI 300 index closed 0.5% lower and registered its second week of loss. The Shanghai Composite index also dropped 0.5% to 3,347.49 points. The Hang Seng China Enterprises Index fell 1.5% and Hong Kong's benchmark Hang Seng Index lost 1.2%. Both the indexes snapped their six-week winning streaks. "Sentiment dropped further amid lower turnover and lukewarm macro prints," Laura Wang, Chief China Equity Strategist at Morgan Stanley wrote in a note on Friday. "No signs of near-term stimulus step-up as the interim tariff truce continues." A federal appeals court on Thursday temporarily reinstated the most sweeping of U.S. President Donald Trump's tariffs, a day after a trade court blocked them, saying the president exceeded his authority. The CSI Consumer Electronics Thematic Index lost 2%. Apple iPhone assembler Foxconn lost 3.9%, BYD Electronics tumbled 6% and Lens Tech weakened 3.4%. Auto shares continued their downward trend as price war concerns lingered. Shares of Xpeng, BYD and Nio slipped by 3.3% to 5%. Cushioning the losses, the CSI Banks Index advanced 0.6% after news that People's Bank of China (PBOC)Governor Pan Gongsheng will attend the opening ceremony of the Lujiazui Forum in Shanghai next month and announce several major financial policies. Mainland China's stock, bond, foreign exchange and commodity futures markets will be closed on Monday, June 2, for the Dragon Boat holiday. They will resume trade on June 3.
Mint
2 days ago
- Automotive
- Mint
China, HK shares dip as Apple suppliers slip on tariff concerns, auto makers tumble
HONG KONG, - Chinese stocks fell on Friday as Apple suppliers weakened after a U.S. court reinstated the tariffs, while automakers extended losses amid ongoing price war concerns, pushing major indices toward weekly declines. ** At the midday break, China's blue-chip CSI300 index weakened 0.3%, heading to the second week of loss. The Shanghai Composite index also dropped 3% to 3,353.07 points. ** Declines were sharper in Hong Kong. The Chinese H-share index listed in Hong Kong, the Hang Seng China Enterprises Index fell 1.7% and Hong Kong's benchmark Hang Seng Index lost 1.5%, both set to snap a six-week winning streak. ** "Sentiment dropped further amid lower turnover and lukewarm macro prints," Laura Wang, Chief China Equity Strategist at Morgan Stanley wrote in a note on Friday. ** "No signs of near-term stimulus step-up as the interim tariff truce continues." ** Weighing on the markets on Friday, Apple suppliers tumbled after an appeals court kept President Donald Trump's tariffs in effect, a day after a trade court blocked them, saying the president exceeded his authority. ** iPhone assembler Foxconn lost 3.5%, BYD Electronics tumbled 5% and Lens Tech weakened 3.8%. ** Auto shares continued the downward trend as price war concerns linger. Shares of Xpeng, BYD and Nio all slipped more than 4%. ** Cushioning the losses, the CSI Banks Index advanced 1% after news that People's Bank of China Governor Pan Gongsheng will attend the opening ceremony of the Lujiazui Forum in Shanghai next month and announce several major financial policies. ** Around the region, MSCI's Asia ex-Japan stock index was weaker by 0.5% while Japan's Nikkei index was down 1.3%. This article was generated from an automated news agency feed without modifications to text.
International Business Times
2 days ago
- Business
- International Business Times
Asian Markets Climb After U.S. Court Overturns Trump-Era Tariffs as Investor Optimism Grows on Trade Relief and Tech Gains
Asian stock markets moved higher on Thursday after a U.S. court blocked President Donald Trump's latest decision to impose tariffs on April 2, 2025. The decision calling the tariffs "invalid as contrary to law" improved investor sentiment, with global markets receiving a lift. This follows an up-and-down week in Asia last week, where Hong Kong's Hang Seng rose slightly while China's CSI300 went lower, reflecting caution in trade. The US Court of International Trade ruled unanimously against an emergency declaration President Trump used to impose tariffs earlier this year. The Opinion: The panel of three judges, who were nominated by Presidents Trump, Obama, and Reagan, said that the administration had exceeded its legal authority. The White House indicated it would immediately appeal, a step that could prolong the ultimate resolution. Markets responded quickly, nonetheless. Investors saw the court's pushback as a sign that trade policy may now have to pass more legal scrutiny and less unpredictability. Japan's Nikkei was up 1.2%, while South Korea's KOSPI and Australia's ASX each gained close to 1%. In Hong Kong, the Hang Seng Index gained 0.9 percent after a positive turnaround from earlier losses. But China's blue-chip CSI300 posted only modest gains, mirroring persistent worries about domestic policy tightening and a slowing economy. Gains were bolstered by historically strong earnings from U.S. tech giant Nvidia. The company's bullish forecast sent tech stocks soaring around the world, with Nasdaq futures up 2 percent. Asian semiconductor and AI companies found favor, contributing strength to the region's tech-heavy indexes. In currency trading, the dollar strengthened in value against the yen, euro, and Swiss franc, an indication that traders were feeling more inclined to take risks. Yields on Treasuries nudged up modestly, in a sign of some mixed expectations about whether inflation and the Federal Reserve are preparing new rate moves. Analysts say that while averting the tariffs will help growth and ease recession fears, it may also serve to suppress future inflation — a key debate among Fed officials. The timing of the court ruling is significant. The legal block by one of Canada's three main parties could help to stall the initiative or force modification just as some of the world's biggest economies, including China and the United States, are engaged in delicate trade and policy discussions. It also undermines the prospect for quick trade deals, since global partners may now wait for clearer indications from the United States. Focus now turns to key U.S. economic indicators and central bank signals. Investors are awaiting the second estimate of U.S. GDP, weekly jobless claims, and remarks from Federal Reserve officials Barkin, Goolsbee, May, and Logan. In Europe, markets will also be watching for comments from Bank of England Governor Andrew Bailey, which may influence sentiment. For now, the markets across Asia seem to be finding their equilibrium after weeks of unease. The court's rejection of the April 2 tariffs has soothed some nerves, at least for now, by showing that there are limits to executive power over trade. Risk sentiment has also been on the mend, and legal uncertainty will likely discourage shock-and-awe policy swings, so it's no wonder regional investors are guardedly optimistic.
Hindustan Times
3 days ago
- Business
- Hindustan Times
China stocks look to snap five-day losing streak as US court blocks Trump tariffs
SHANGHAI, - Mainland China and Hong Kong stocks advanced on Thursday as sentiment improved after a U.S. trade court blocked President Donald Trump's so-called reciprocal tariffs that had weighed on global trade and roiled financial markets. Key Chinese stock indexes rebounded and looked set to snap their five-day losing streak, while the U.S. dollar rallied and gold sank in overseas market, as risk appetite sharply changed following the court decision. ** A U.S. trade court blocked President Donald Trump's tariffs from going into effect in a sweeping ruling on Wednesday that found the president overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. ** At the midday break, the Shanghai Composite index was up 0.72% at 3,363.97 points, while the blue-chip CSI300 index was up 0.68% 3,862.44 points. If both indexes retain all the gains at the close, they will post their first daily gain since May 21. ** The smaller Shenzhen index was up 1.23%, the start-up board ChiNext Composite index was higher by 1.16% and Shanghai's tech-focused STAR50 index was up 1.25%. ** In Hong Kong, the benchmark Hang Seng Index was up 0.65% at 23,408.36 points, while the Chinese H-share index listed in the financial hub, the Hang Seng China Enterprises Index rose 0.68% to 8,501.15 points. ** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.41% while Japan's Nikkei index was up 1.58%. ** However, gains in Chinese shares were capped as uncertainty around bilateral relations between Washington and Beijing still lingered, traders and analysts said. ** "The ruling gives an interim boost to risk sentiment which saw equity futures, bond yields and the dollar higher," said Frances Cheung, head of FX and rates strategy at OCBC Bank. "Development on tariff and trade relation remains fluid. Investors may be reluctant to load heavy positions on either side of the trade." ** The U.S. has ordered companies that offer software used to design semiconductors to stop selling to China without first getting an export license, sources told Reuters. ** However, Beijing-based Empyrean Technology Co , which is considered to be China's primary alternative to the U.S. giants like Cadence, Synopsys, and Siemens in the electronic design automation market, jumped 11.9% in morning deals. ** U.S. Secretary of State Marco Rubio announced on Wednesday the United States will start "aggressively" revoking visas of Chinese students, including those with connections to the Chinese Communist Party or studying in critical fields.
