Thursday, 24 October 2019
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Rising hopes of trade truce lift China stocks
Thursday, 27 June 2019 14:52 WIB | MARKET UPDATE |SahamChinaIndeks Shanghai Composite

Chinese shares ended higher on Thursday as hopes rose that the United States and China could reach an agreement to prevent further escalation in their trade war, ahead of a meeting between leaders of the two countries this weekend.

At the close, the Shanghai Composite index was up 0.69% at 2,996.79, after two straight sessions of losses. The blue-chip CSI300 index was up 1.07%, with its financial sector sub-index higher by 1.24%, the consumer staples sector up 1.65%, the real estate index up 0.59% and the healthcare sub-index up 0.83%.

 The smaller Shenzhen index ended up 1.09% and the start-up board ChiNext Composite index was higher by 1.376%.

U.S. President Donald Trump said on Wednesday that a deal with his Chinese counterpart Xi Jinping was possible this weekend, but that he was prepared to impose U.S. tariffs on virtually all remaining Chinese imports if the two countries continue to disagree.

Source: Reuters

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