China Stocks Surge Amid US Trade Tensions and Robust Exports
China's stock markets reached a multi-year high as strong export data offset the impact of potential new US tariffs. The Shanghai Composite index rose, driven by the rare earth and energy sectors, while investors closely monitor trade negotiations between the US and China for a long-term resolution.
China's stock markets hit a 3-1/2-year high on Thursday, buoyed by positive export data that maintained a market rally despite the threat of renewed US tariffs.
The Shanghai Composite index increased by 0.2%, closing at its highest point since December 2021. Meanwhile, China's exports exceeded expectations with a 7.2% year-on-year rise in July, amid temporary relief from US tariff pressures.
Investors remain focused on the August 12 deadline for US-China trade negotiations. The rare earth sector, along with energy and banking, led gains as optimism surrounding ongoing trade talks persisted.
(With inputs from agencies.)
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