FX.co ★ China Stocks Mixed on Trade Uncertainty

On Thursday, the Shanghai Composite experienced a marginal increase of 0.01%, concluding the day at 3,403, while the Shenzhen Component saw a decline of 0.11% to 10,234. The mainland stock market struggled to find a definitive direction, influenced by ongoing uncertainties surrounding trade relations between the US and China. Earlier this week, negotiators from both nations reached a tentative trade agreement in London. This agreement entails the removal of Chinese export restrictions on rare earth minerals and restored access for Chinese students to American universities. Despite this progress, the agreement awaits formal approval from both President Donald Trump and President Xi Jinping. President Trump has described the agreement as "done," and Commerce Secretary Howard Lutnick confirmed that tariffs on Chinese imports would remain capped at the current level of 55%. However, crucial details of the deal remain ambiguous, and Beijing has yet to issue any official confirmation. In the stock market, consumer stocks faced pressure, with declines observed in notable companies: Kweichow Moutai fell by 1.4%, Wuliangye Yibin decreased by 1.8%, and BYD Company dropped by 2.4%.