Chinese stocks end the week in the red as tariff concerns loom
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Chinese equities slipped on Friday, with the Shanghai Composite Index sliding 0.7%, or 22.44 points, to 3,351.31 and the Shenzhen Component Index down 0.6%, or 60.77 points, to 10,607.33. This marks a bearish conclusion to the week as the market grapples with U.S. President Donald Trump’s planned tariffs on Chinese goods, which may go into effect as early as April.
Traders continue to show caution amid signals that Washington might adjust the scope of these levies in return for a deal allowing ByteDance to sell TikTok. While the softer stance on the short video platform hints at possible compromise, the threat of additional tariffs remains a central worry for investors.
Corporate earnings contributed to the negative mood, as several firms reported declines in profit and revenue for 2024. CECEP Wind-Power sank 4.5% after posting a 12% fall in attributable profit, while Huaibei Mining slipped 4.4% following a 22% profit drop. Levima Advanced Materials also lost 3.7% as its income decreased and attributable profit slid by 47%.
These developments underscore lingering apprehension over trade policies and flagging corporate performance. The uncertain tariff outlook continues to weigh on sentiment, with market participants watching closely for potential policy shifts that might offer some relief going into the new week.
Traders continue to show caution amid signals that Washington might adjust the scope of these levies in return for a deal allowing ByteDance to sell TikTok. While the softer stance on the short video platform hints at possible compromise, the threat of additional tariffs remains a central worry for investors.
Corporate earnings contributed to the negative mood, as several firms reported declines in profit and revenue for 2024. CECEP Wind-Power sank 4.5% after posting a 12% fall in attributable profit, while Huaibei Mining slipped 4.4% following a 22% profit drop. Levima Advanced Materials also lost 3.7% as its income decreased and attributable profit slid by 47%.
These developments underscore lingering apprehension over trade policies and flagging corporate performance. The uncertain tariff outlook continues to weigh on sentiment, with market participants watching closely for potential policy shifts that might offer some relief going into the new week.