Tariff Truce Boosts China and Hong Kong Markets
China and Hong Kong stock markets rose as a 90-day extension of the tariff truce between the U.S. and China calmed investor sentiment. The financial markets had largely anticipated this extension, with key indexes in China and Hong Kong recording gains amidst cautious optimism.
On Tuesday, shares in China and Hong Kong saw an increase, fueled by the extension of a tariff truce between the United States and China. The world's two largest economies agreed on a 90-day extension, a move anticipated by financial markets and aimed at easing investor concerns.
The Shanghai Composite Index closed 0.5% higher at 3,665.92, its highest level since December 2021, while the CSI300 index also gained 0.52%. Meanwhile, Hong Kong's Hang Seng rose by 0.25% despite a slight dip in the Hang Seng Tech index.
Investors continue to monitor trade negotiations, which are expected to take several months. Market focus has shifted to an upcoming U.S.-Russia summit, with experts noting that the current situation in trade relations is likely to persist without significant government intervention.
(With inputs from agencies.)
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