Jan 24, 202514:20GMT+7
(MT Newswire) - Chinese stocks gained during the last trading day of the week after US President Donald Trump said he could reach a deal with the world's second-largest economy.
The Shanghai Composite Index, the main gauge of Chinese stocks, jumped 0.70% or by 22.46 points to 3,252.63. The Shenzhen Component Index rose 1.15% or by 116.56 points to 10,292.73.
Days following his inauguration, Trump talked about his phone conversation with Chinese President Xi Jinping in a television interview where he said he could work with China over fair trade practices, Reuters reported Friday, citing an interview on Fox News.
Trump said he would choose not to use tariffs against China but acknowledged they are a "tremendous power," the report said.
"But we have one very big power over China, and that's tariffs, and they don't want them ... but it's a tremendous power over China," Reuters quoted Trump as saying.
The revelation comes after Trump did not mention tariffs against China during his inaugural address Monday.
He would then say later his government would consider 10% tariffs on the world's second-largest economy beginning in February because China exports fentanyl to the US through Canada and Mexico, the report said.
Meanwhile, US legislators filed a bill removing China's preferential trade status with the US, introducing gradual steep tariffs, and revoking de minimis exemption to tariffs on goods worth less than $800, Reuters reported separately.
In corporate news, Chaclo'sstock finished 3% higher in Shanghai after it forecast up to a 94% surge in attributable profit in 2024.
Sumber : MT Newswires
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