SHANGHAI: China stocks ended lower on Tuesday, dragged down by tech firms, as worries over rising Sino-US tensions weighed on investor sentiment. At the close, the Shanghai Composite index was down 1.15% at 3,340.29, while the blue-chip CSI300 index was down 0.91%.
The tech-heavy start-up board ChiNext lost 1.7%, while the newly-launched STAR50 slid 2.9%. Leading the declines, the CSI SWS securities index dropped 3.4%.
China's A-shares were trading at a premium of 35.23% over the Hong Kong-listed H-shares by 0704 GMT. China imposed sanctions on 11 US citizens including lawmakers from President Donald Trump's Republican Party on Monday in response to Washington's imposition of sanctions on Hong Kong and Chinese officials accused of curtailing political freedoms in the former British colony.
Investors are awaiting a meeting between top US and Chinese trade officials on Saturday to review the first six months of the Phase 1 trade deal. China bought only 5% of the targeted $25.3 billion in energy products from the United States in the first half of 2020, falling well short of its trade deal commitments at a time when relations between the two top economies are already sour.
Comments
Comments are closed.