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Business Recorder
7 days ago
- Business
- Business Recorder
China, HK stocks gain after extension of trade truce deadline
HONG KONG: China and Hong Kong shares climbed on Tuesday, as the extension of a tariff truce between the US and China, the world's two largest economies, helped cushion investor sentiment. Washington and Beijing on Monday extended a tariff truce by 90 days in a decision that markets had widely expected. At the close, the Shanghai Composite index rose 0.5% to 3,647.55, extending rally to highest level since Dec 16, 2021. The blue-chip CSI300 index gained 0.52%. Hong Kong's benchmark Hang Seng went up 0.25%, while Hang Seng Tech was down 0.38%. 'This is not a surprise to the financial markets. Investors already assumed the deadline would be extended,' said Zhiwei Zhang, chief economist at Pinpoint Asset Management. The trade negotiation will take months and investors have shifted their focus to the US-Russia summit, he added. China markets have been trending higher in recent weeks, as investors priced in positive signals from a series of US-China trade talks, which focussed on bringing tariffs down from triple-digit levels. China's blue-chip stocks have gained 15% and Hong Kong's Hang Seng have rebounded more than 20% since early April when US President Donald Trump first announced the duties. Semiconductors lifted mainland A-shares on Tuesday, with both Wafer Works (Shanghai) and Cambricon Technologies soaring 20%. Hong Kong-listed shares of Chinese top foundry Semiconductor Manufac uring International Corp jumped 5% after Bloomberg reported that China urged local firms not to use Nvidia's H20 chips. Some investors remained cautious on China stocks even as the immediate concerns over tariff had eased. Ben Bennett, Asia head of investment strategy at L&G Asset Management said they are neutral on Chinese equities. 'We don't think the government will provide significant extra stimulus in the coming months, but would stand ready if the US turns up its tariff pressure,' he said. 'It's largely a stalemate situation where the can is being kicked down the road for further trade negotiations,' said Moh Siong Sim, a currency strategist at Bank of Singapore.
RTHK
12-08-2025
- Business
- RTHK
Trade truce extension cushions HK stocks
Trade truce extension cushions HK stocks The Hang Seng Index ended up 62 points, or 0.25 percent, at 24,969 on Tuesday. File photo: AFP Mainland and Hong Kong shares ended up on Tuesday as the extension of a tariff truce between the United States and China helped cushion investor sentiment. The benchmark Hang Seng Index closed trading for the day up 62 points, or 0.25 percent, at 24,969. The Hang Seng China Enterprises Index ticked up 0.32 percent to end at 8,916 while the Hang Seng Tech Index declined 0.38 percent to close at 5,439. On the mainland, the benchmark Shanghai Composite Index ended up 0.5 percent to 3,665 while the Shenzhen Component Index closed 0.53 percent higher at 11,351. The combined turnover at these two indexes was 1.88 trillion yuan , up from 1.83 trillion yuan on Monday. Shares related to lithography machines, brain-computer interface technology and gas led gains while stocks related to high-performance thermoplastics, energy and metal, and defense equipment suffered major losses. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.24 percent to close at 2,409. Washington and Beijing on Monday extended a tariff truce by 90 days in a decision that markets had widely expected. "This is not a surprise to the financial markets. Investors already assumed the deadline would be extended," said Zhang Zhiwei, chief economist at Pinpoint Asset Management, adding that the trade negotiations will take months and investors had shifted their focus to the US-Russia summit. Blue-chip stocks on the mainland have gained 15 percent while the Hang Seng Index has rebounded more than 20 percent since early April when US President Donald Trump first announced the duties. Semiconductors lifted mainland A-shares on Tuesday, with both Wafer Works (Shanghai) and Cambricon Technologies soaring 20 percent. Hong Kong-listed shares of Chinese top foundry Semiconductor Manufacturing International Corp jumped 5 percent after Bloomberg reported that China urged local firms not to use Nvidia's H20 chips. Ben Bennett, Asia head of investment strategy at L&G Asset Management, said it is neutral on Chinese equities and that "we don't think the government will provide significant extra stimulus in the coming months, but would stand ready if the US turns up its tariff pressure." Moh Siong Sim, a currency strategist at Bank of Singapore, said "it's largely a stalemate situation where the can is being kicked down the road for further trade negotiations." (Reuters/Xinhua)
Business Recorder
12-08-2025
- Business
- Business Recorder
China stocks rise, Hong Kong steady on extended Sino-US trade truce
HONG KONG: China stocks climbed, while Hong Kong shares remained steady on Tuesday, as the extension of tariff truce between the United States and China, the world's two largest economies, helped cushion investor sentiment. Washington and Beijing on Monday extended a tariff truce by 90 days, staving off triple-digit duties on Chinese goods, in a decision that markets had widely expected. China's blue-chip CSI300 Index climbed 0.6% by the lunch break, while the Shanghai Composite Index gained 0.51%. Hong Kong's benchmark Hang Seng was steady at 24,929.34 by midday. 'This is not a surprise to the financial markets. Investors already assumed the deadline would be extended,' said Zhiwei Zhang, chief economist at Pinpoint Asset Management. The trade negotiation will take months and investors have shifted their focus to the U.S.-Russia summit, which could have important implications for the financial markets, he added. China markets have been trending higher in recent weeks, as investors priced in positive signals from the U.S.-China trade talks in Geneva, London and Stockholm, which focused on bringing retaliatory tariffs down from triple-digit levels. China's blue-chip stocks have gained 15% and Hong Kong's Hang Seng are up 7% since early April when U.S. President Donald Trump first announced the duties. Semiconductor stocks lifted mainland A-shares on Tuesday, with Wafer Works (Shanghai) and Cambricon Technologies up 20% and 16%, respectively. On chip sale restrictions, Trump on Monday suggested he might allow Nvidia to sell a scaled-down version of its next-generation advanced GPU chip in China. Some investors remained cautious on China stocks even as the immediate concerns over tariff had eased. Ben Bennett, Asia head of investment strategy at L&G Asset Management said they are neutral on Chinese equities. 'We don't think the government will provide significant extra stimulus in the coming months, but would stand ready if the U.S. turns up its tariff pressure,' he said.
