China stocks lower, Hong Kong slightly up as investors assess tariff impact.

From Google: 2025-04-29 04:55:00

China stocks edged lower while Hong Kong stocks rose slightly as investors evaluated the impact of tariffs on the Chinese economy. The Shanghai Composite Index fell 0.16%, while the Hang Seng Index in Hong Kong gained 0.09%. Investors are closely monitoring the ongoing trade tensions between the US and China.

Chinese tech giants Tencent and JD.com saw their shares drop by 0.9% and 1.2% respectively, while Alibaba’s shares rose by 0.6%. This comes as the US plans to impose a 10% tariff on $300 billion worth of Chinese goods starting September 1st. The ongoing trade dispute continues to weigh on investor sentiment.

The Chinese yuan weakened against the US dollar, with the onshore yuan trading at 7.0495 per dollar and the offshore yuan at 7.0708 per dollar. The yuan’s depreciation is seen as a result of escalating trade tensions between the US and China. Investors are closely watching the currency’s movements for signals of further economic impact.



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