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Business Recorder
a day ago
- Business
- Business Recorder
China, HK stocks close down as US-China call offers no clear progress on trade
SHANGHAI: China and Hong Kong stocks ended slightly lower on Friday, as investors remained cautious after a call between US President Donald Trump and Chinese leader Xi Jinping failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. 'If you look at the conversation between Chinese and US presidents, there's nothing concrete that's positive. So little impact on stocks,' said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. China's blue-chip CSI300 Index fell 0.1%, while the Shanghai Composite Index was flat. Hong Kong benchmark Hang Seng Index dipped 0.5%. For the holiday-shortened week, the CSI 300 Index gained nearly 1%, while the Hang Seng Index rose 2.2%. 'The only good news is that things are not getting worse,' said William Xin, chairman of Shanghai-based hedge fund Spring Mountain Pu Jiang Investment Management. 'If Trump can come to China for a visit in the short term, that would be hugely positive.' Chinese markets have lacked clear direction since April 2, when Trump unveiled sweeping reciprocal tariffs, raising fears of a global trade disruption. The blue-chip CSI300 Index has barely budged from the April 2 level, and Hong Kong's benchmark Hang Seng Index gained less than 3% during the period, both lagging the recovery seen among major global markets. Investors should not over-interpret the talk as both sides are still struggling to adapt to each other in a broad confrontational trend, said Charles Wang, chairman, Shenzhen Dragon Pacific Capital Management. Wang said the most significant takeaway from the leaders' exchange was Xi's warning to Trump against provocative actions on Taiwan, which he interpreted as a signal that Beijing is not preparing for a near-term military move. Chinese tech American Depositary Receipts (ADRs) rose just 0.85% in New York overnight following the call, while tech majors listed in Hong Kong fell 0.6%. Onshore non-ferrous metal shares gained 1.1%, and materials stocks listed in Hong Kong jumped 2.4%.
The Star
2 days ago
- Business
- The Star
China, HK stocks close down as US-China call offers no clear progress on trade
A screen displays market movements in the Shanghai Stock Exchange. — AFP SHANGHAI: China and Hong Kong stocks ended slightly lower on Friday, as investors remained cautious after a call between U.S. President Donald Trump and Chinese leader Xi Jinping failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. "If you look at the conversation between Chinese and U.S. presidents, there's nothing concrete that's positive. So little impact on stocks," said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. China's blue-chip CSI300 Index fell 0.1%, while the Shanghai Composite Index was flat. Hong Kong benchmark Hang Seng Index dipped 0.5%. For the holiday-shortened week, the CSI 300 Index gained nearly 1%, while the Hang Seng Index rose 2.2%. "The only good news is that things are not getting worse," said William Xin, chairman of Shanghai-based hedge fund Spring Mountain Pu Jiang Investment Management. "If Trump can come to China for a visit in the short term, that would be hugely positive." Chinese markets have lacked clear direction since April 2, when Trump unveiled sweeping reciprocal tariffs, raising fears of a global trade disruption. The blue-chip CSI300 Index has barely budged from the April 2 level, and Hong Kong's benchmark Hang Seng Index gained less than 3% during the period, both lagging the recovery seen among major global markets. Investors should not over-interpret the talk as both sides are still struggling to adapt to each other in a broad confrontational trend, said Charles Wang, chairman, Shenzhen Dragon Pacific Capital Management. Wang said the most significant takeaway from the leaders' exchange was Xi's warning to Trump against provocative actions on Taiwan, which he interpreted as a signal that Beijing is not preparing for a near-term military move. Chinese tech American Depositary Receipts (ADRs) rose just 0.85% in New York overnight following the call, while tech majors listed in Hong Kong fell 0.6%. Onshore non-ferrous metal shares gained 1.1%, and materials stocks listed in Hong Kong jumped 2.4%. China's 10-year and 30-year government bond yields held steady, after the country's central bank said it would inject 1 trillion yuan ($139.23 billion) cash to its banking system via outright reverse repos on Friday. - Reuters
RTHK
2 days ago
- Business
- RTHK
Hang Seng Index ends day on a weak note
Hang Seng Index ends day on a weak note The Hang Seng Index ended trading for the day down 114 points at 23,792. File photo: AFP Hong Kong and mainland Chinese stocks ended slightly lower on Friday, as investors remained cautious after a call between President Xi Jinping and his US counterpart, Donald Trump, failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. "If you look at the conversation between the Chinese and US presidents, there's nothing concrete that's positive. So little impact on stocks," said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. In Hong Kong, the benchmark Hang Seng Index ended trading for the day down 114.43 points, or 0.48 percent, at 23,792.54. The Hang Seng China Enterprises Index fell 0.63 percent to end at 8,629.75 while the Hang Seng Tech Index fell 0.63 percent to end at 5,286.52. Across the border, the blue-chip CSI300 Index fell 0.1 percent. The benchmark Shanghai Composite Index ended up 0.04 percent at 3,385.36, while the Shenzhen Component Index closed 0.19 percent lower at 10,183.70. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 0.45 percent to close at 2,039.43. For the holiday-shortened week, the CSI 300 Index gained nearly 1 percent, while the Hang Seng Index rose 2.2 percent. (Agencies)
Time of India
2 days ago
- Business
- Time of India
China, HK stocks close down as US-China call offers no clear progress on trade
China and Hong Kong stocks ended slightly lower on Friday, as investors remained cautious after a call between U.S. President Donald Trump and Chinese leader Xi Jinping failed to provide clear signals of progress in easing trade tensions. Trump and Xi confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday, leaving key issues unresolved for future talks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esse novo alarme com câmera é quase gratuito em Niterói (consulte o preço) Alarmes Undo "If you look at the conversation between Chinese and U.S. presidents, there's nothing concrete that's positive. So little impact on stocks," said Guo Jianwen, partner at Shanghai-based hedge fund Haiyi Capital. China's blue-chip CSI300 Index fell 0.1%, while the Shanghai Composite Index was flat. Hong Kong benchmark Hang Seng Index dipped 0.5%. For the holiday-shortened week, the CSI 300 Index gained nearly 1%, while the Hang Seng Index rose 2.2%. Live Events "The only good news is that things are not getting worse," said William Xin, chairman of Shanghai-based hedge fund Spring Mountain Pu Jiang Investment Management. "If Trump can come to China for a visit in the short term, that would be hugely positive." Chinese markets have lacked clear direction since April 2, when Trump unveiled sweeping reciprocal tariffs, raising fears of a global trade disruption. The blue-chip CSI300 Index has barely budged from the April 2 level, and Hong Kong's benchmark Hang Seng Index gained less than 3% during the period, both lagging the recovery seen among major global markets. Investors should not over-interpret the talk as both sides are still struggling to adapt to each other in a broad confrontational trend, said Charles Wang, chairman, Shenzhen Dragon Pacific Capital Management. Wang said the most significant takeaway from the leaders' exchange was Xi's warning to Trump against provocative actions on Taiwan, which he interpreted as a signal that Beijing is not preparing for a near-term military move. Chinese tech American Depositary Receipts (ADRs) rose just 0.85% in New York overnight following the call, while tech majors listed in Hong Kong fell 0.6%. Onshore non-ferrous metal shares gained 1.1%, and materials stocks listed in Hong Kong jumped 2.4%. China's 10-year and 30-year government bond yields held steady, after the country's central bank said it would inject 1 trillion yuan ($139.23 billion) cash to its banking system via outright reverse repos on Friday. ($1 = 7.1826 Chinese yuan)
Reuters
2 days ago
- Business
- Reuters
Investor caution lingers as Trump-Xi call offers no trade breakthrough
SINGAPORE, June 6 (Reuters) - Chinese markets had a muted response on Friday to the rare leader-to-leader call between U.S. President Donald Trump and Chinese leader Xi Jinping that left key issues to further talks, keeping investors cautious about simmering trade tensions. China's blue-chip CSI300 Index (.CSI300), opens new tab was down 0.1%, while the Shanghai Composite Index (.SSEC), opens new tab was flat. Hong Kong benchmark Hang Seng Index (.HSI), opens new tab dipped 0.4%. Here are some comments from analysts and investors: GUO JIANWEN, PARTNER, HEDGE FUND HAIYI CAPITAL, SHANGHAI: "If you look at the conversation between Chinese and U.S. presidents, there's nothing concrete that's positive. So little impact on stocks. There's only some trading opportunities in the market." WILLIAM XIN, CHAIRMAN, SPRING MOUNTAIN PU JIANG INVESTMENT MANAGEMENT, SHANGHAI: "The only good news is that things are not getting worse. If Trump can come to China for a visit in the short term, that would be hugely positive." GARY NG, SENIOR ECONOMIST, NATIXIS, HONG KONG (VIA EMAIL): "Although the likelihood of a U.S.-China deal increases with more high-level dialogues, investors remain skeptical that both sides are merely buying time to address some pressing issues. "The call does not offer much comfort in cutting tariffs but only touching on access of critical materials and tech export control. Therefore, there is no certainty of what kind of deal to make, and it may only be a partial one given the wide range of issues between the U.S. and China." CHARLES WANG, CHAIRMAN, SHENZHEN DRAGON PACIFIC CAPITAL MANAGEMENT CO, SHENZEN: "The news is positive to the market, but investors should not over-interpret it. Both sides are still struggling to adapt to each other in a broad confrontational trend." Wang added that the most profound implication from the talks was Chinese President Xi Jinping's warning to his U.S. counterpart, Donald Trump, against taking provocative steps on Taiwan - a signal, in his view, that China is not prepared to conquer the island by force anytime soon. "This shows that China is not ready to take back Taiwan in the near term using force. Otherwise, China doesn't need to warn the U.S. against such a scenario." WANG ZHUO, PARTNER, ZHUOZHU INVESTMENT, SHANGHAI: Wang said direct communication between China and the U.S. is certainly conducive to removing some misunderstandings, especially following recent finger-pointings. "However, Trump fickleness has made such talks less and less meaningful to the market." GAO LE, INVESTMENT ADVISOR, GALAXY SECURITIES, BEIJING: "It means China's market sentiment will continue to heal. "Recent yuan appreciation also signifies expectations of China's economic resilience." He said the fact that U.S. shares fell after the news while U.S.-listed China stocks rose shows investors are more optimistic toward China's economy amid the trade war. CHARU CHANANA, CHIEF INVESTMENT STRATEGIST, SAXO, SINGAPORE (VIA EMAIL): "Markets are relieved the Trump-Xi call didn't escalate tensions further but that's not quite a reason to cheer either. While it appears that the tensions of rare-earths minerals and student visas may have been dialled down, investors see the strategic rivalry, particularly around AI and tech dominance, as far from over. "New issues can flare up anytime, and a comprehensive deal remains unlikely. As long as things do not get worse, markets are content to move on, for now, that means shifting focus squarely to the jobs report due later in the day."
