The Shanghai Composite fell 1% to around 3,210 while the Shenzhen Component dropped 1.1% to 10,185 on Wednesday, with the Shanghai index hitting a one-week low after U.S. President Donald Trump said his team was discussing 10% tariffs on Chinese imports that could come into effect as early as Feb. 1. Trump's comments overshadowed more positive developments from Friday, when he had a friendly phone call with Chinese President Xi Jinping, during which they discussed trade and fentanyl, among other topics. At the World Economic Forum, Chinese Vice Premier Ding Xuexiang stressed that there are no winners in a trade war and called for greater international economic cooperation. Significant losses were recorded at Seres Group (-3.8%), ZTE Corp (-1.5%), East Money (-1.5%), Contemporary Amperex (-2.6%) and Fivocom Wireless (-4.4%). (AL)
Source: Trading Economics
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