China Stocks Fall as Trade Uncertainty Persists
The Shanghai Composite fell 0.4% to 3,921 on Thursday, while the Shenzhen Component dropped 0.9% to 13,521, as uncertainty persisted over the extension of the US-China trade truce. As Chinese President Xi Jinping arrived in the US for his first visit in 11 years, Treasury Secretary Bessent revealed that the US and China had agreed to extend their trade truce by two months, until January 10. However, China has not publicly confirmed that expiration date, and the extension falls short of the three-to-six-month continuation that some US officials had previously suggested. While expectations for the Trump-Xi summit remain modest, the meeting is still expected to cover artificial intelligence, Iran, Taiwan, and broader economic relations, as both sides seek to maintain stability in bilateral ties. Among the notable losers were Foxconn Industrial Internet (-1.1%), Zijin Mining Group (-1.3%), CATL (-1.2%), and Suzhou Dongshan Precision Manufacturing (-2.6%).
9% to 13,521, as uncertainty persisted over the extension of the US-China trade truce. As Chinese President Xi Jinping arrived in the US for his first visit in 11 years, Treasury Secretary Bessent revealed that the US and China had agreed to extend their trade truce by two months, until January 10. However, China has not publicly confirmed that expiration date, and the extension falls short of the three-to-six-month continuation that some US officials had previously suggested.
While expectations for the Trump-Xi summit remain modest, the meeting is still expected to cover artificial intelligence, Iran, Taiwan, and broader economic relations, as both sides seek to maintain stability in bilateral ties. 6%).