FX.co ★ China Stocks Rise as Trump Unveils New Tariff Rates

On Tuesday, the Shanghai Composite Index increased by 0.2% to approximately 3,480 points, while the Shenzhen Component Index climbed 0.8% to 10,520 points. This rise was a recovery from the previous day's setbacks, triggered by U.S. President Donald Trump unveiling new tariff rates on 14 countries, which alleviated some market uncertainty. Additionally, Trump issued an executive order to postpone the deadline for reciprocal tariffs from July 9 to August 1, providing an extended window for diplomatic negotiations. Although China was not targeted in the latest tariff announcements, Trump cautioned that countries aligning with the BRICS' "Anti-American policies" could face a further 10% tax, coinciding with the bloc's summit in Brazil. Within China, market participants anticipated significant inflation and trade statistics due later in the week, which are expected to shed light on the far-reaching economic consequences of the shifting US-China trade dynamics. The tech sector spearheaded the market gains, with substantial increases seen in companies like Foxconn Industrial (+8.9%), Victory Giant (+7.6%), Eoptolink Technology (+4.4%), Zhongji Innolight (+3.2%), and Tansun Technology (+15%).