January 10, 2025 at 02:56 am EST
(MT Newswires) -- Chinese shares ended the week with big losses as investors avoided riskier assets on expectations that geopolitical tensions between China and the US will worsen under US President-elect Donald Trump.
The Shanghai Composite Index, the main gauge of Chinese stocks, was down 1.3% to 3,168.52. The Shenzhen Component Index fell 1.8% to 9,795.94.
The blacklisting of Tencent Holdings and CATL earlier in the week further fanned fears of worsening tensions ahead of Trump's inauguration. Pessimism about China's economy amid a housing crisis and deflationary pressures also weighed down on market sentiment.
"It reflects the numerous uncertainties going on with weakening macro numbers, Trump inauguration, currency pressure due to US dollar strength, and a lull in stimulus until Two-Sessions," Bloomberg news cited Xin-Yao Ng, an investment director at abrdn Plc, as saying.
In company news, Juneway Electronic Technology (SHE:301458) closed 247% higher versus its initial public offering price of 10.40 yuan per share in its debut on the Shenzhen bourse. Suzhou Sepax Technologies (SHA:688758) surged 379% from its IPO price of 4.32 yuan per share in its debut on the Shanghai bourse.

Sumber : MT Newswires