Daily Management Review

Chinese stocks fall more than 5% amid US-China trade conflict


05/06/2019


Shares in China fell amid escalating tensions between the US and China, after US President Donald Trump announced an upcoming increase in duties on Chinese goods.



The Shanghai Composite Index to fell by 5.58% to 2,906.46 points. The Shenzhen Composite fell 7.38% to 1,515.80 points.

The CSI 300 index, which tracks the shares of the largest public companies in mainland China, ended the day with a decline of 5.84% to 3,684.62 points.

Hong Kong's Hang Seng Index lost 2.9% and the trading day was closing it was at the level of 29,209.82 points.

Meanwhile, the Australian stock index ASX 200 fell by 0.82% on the basis of trading on Monday.

The exchanges of Japan and South Korea are closed on the occasion of the holidays.

On the eve, of Trump wrote on Twitter that he is going to increase tariffs on imports of Chinese goods in the amount of $ 200 billion from 10% to 25% on Friday. He also threatened to introduce a 25% tariff for additional goods worth $ 325 billion in the near future.

Earlier it was expected that this week trade negotiations between Washington and Beijing will reach the final straight and the deal will be concluded.

After Trump’s declarations of readiness to raise duties, information appeared that China was ready to cancel or at least postpone the next round of talks that was to take place this week in the United States.

However, during a press conference on Monday, Foreign Ministry spokesman Geng Shuang said that the country’s delegation was still "preparing for a trip to the United States for trade negotiations."

source: reuters.com






Science & Technology

Is UAV drone industry falling into decay?

UK Scotland Yard employs AI to deal with frauds

US sets to fight robocalls outbreak

Top 7 green energy innovators

Volvo’s New Car Uses Blockchain For Recycled Cobalt

False Memories Can Be Created By Fake News On Social Media, Shows A Study

DEF CON Hosts Auto-Makers And Cybersecurity Enthusiasts

WHO found no danger in microplastics in drinking water

Apple starts testing Chinese OLED screens for iPhone 12

Analysts: Google Search is losing clicks

World Politics

World & Politics

US FAA invites representatives from 50 countries to discuss 737 MAX certification

Iran Blamed By US’s Pompeo For The Drone Attacks On Saudi Oil Facility

IMF: Georgieva is the only candidate to replace Lagarde

Saudi Arabia to issue tourist visas

USA introduces sanctions against Iranian space agencies

Investments continue to flow into Cape Verde and exceed expectations of Minister of Finance Olavo Correia

USA, UK to create a working group on economics

Global Fashion Companies Support Environment Protection At G7 Summit