Chinese Shares Slip Amid Uncertainties on Upcoming US Election; Shanghai Guijiu Dip 10%
Thursday, September 12, 2024       15:02 WIB

September 12, 2024 at 03:41 am EDT
(MT Newswires) -- Chinese shares fell on a second day as investors are cautious over the country's trading ties with the US amid the upcoming presidential election in November.
The Shanghai Composite Index, the main gauge of Chinese stocks, lost 0.2%, or 4.67 points, to close Tuesday's trade at 2,717.12. The Shenzhen Component Index slid 0.6%, or 51.14 points, to 8,054.24.
US presidential hopefuls Donald Trump and Kamala Harris are at odds on their stances on the US' economic policy with China.
Harris is likely to stick to the current tariff policy imposed by the Biden Administration, while Trump looks at hiking duties on Chinese imports by up to 100%.
Cornell University's economics professor, Eswar Prasad, said that Trump's win may raise trade and economic tensions between China and the US, according to a Wednesday report on CNBC .
In corporate news, shares of Shanghai Guijiu's (SHA:600696) dipped 10% at the close after the liquor maker's chairman and general manager, Han Xiao, was charged for allegedly being involved in the illegal fundraising of Haiyin Wealth Management.

Sumber : MT Newswires

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