On Tuesday, China’s stock market navigated a volatile session, closing relatively stable after US President Donald Trump postponed implementing new tariffs on Chinese imports. This decision eased some pressure off the markets temporarily.
The blue-chip CSI300 index nudged up by 0.1%, having retracted from earlier gains. Meanwhile, the Shanghai Composite index showed a nominal dip. In contrast, Hong Kong’s Hang Seng Index surged 0.9%, reaching its highest value in five weeks.
President Trump, previously poised to impose a 60% tariff on Chinese goods, opted to study trade relations before any immediate actions. This shift allows China some leeway to adjust its domestic economy, which remains crucial to market trajectories. Property stocks led Tuesday’s gains, with China Vanke rebounding on positive bond interest announcements and Country Garden witnessing substantial recovery post a trading suspension. Energy stocks, however, declined sharply due to weakened Brent crude futures amidst Trump’s energy policy plans.
(With inputs from agencies.)