China Stocks Rise Amid Extended Tariff Truce
China stocks advanced, while Hong Kong shares remained stable, following a tariff truce extension between the U.S. and China. Investors had anticipated this move. The truce has buoyed Chinese markets recently, despite continued caution and potential future challenges in trade negotiations.
China's stock markets rose as a historic tariff truce between the United States and China was extended by 90 days, as announced on Monday. The move helped stabilize Hong Kong shares as well, with Hang Seng remaining steady.
The extension prevents triple-digit tariffs on Chinese goods, which was expected by many investors. China's CSI300 Index increased by 0.6%, and the Shanghai Composite saw a 0.51% gain. Hong Kong's Hang Seng stood at 24,929.34 by midday.
Despite positive market responses, experts remain cautious about the trajectory of trade negotiations. Investors now look towards the U.S.-Russia summit for further market implications. Market analysts like Zhiwei Zhang highlight that the negotiation delay was anticipated, leaving room for future trade developments.
(With inputs from agencies.)
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