April 11, 2025 at 03:43 am EDT
(MT Newswires) -Chinese shares erased earlier losses, ending Friday's session in the green and maintaining their winning streak, despite the US escalating the trade war with minimum tariffs on Chinese goods at 145%.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.5% to 3,238.23. The Shenzhen Component Index climbed 0.8% to 9,834.44. Both indices were up for a fourth straight session.
The White House on Thursday clarified that US President Donald Trump's announced 125% tariff increase was in addition to an existing 20% levy on Chinese goods related to fentanyl supply.
Elsewhere, China is reportedly seeking to strengthen its trading ties with the European Union as both sides expressed their willingness to resume a trade remedy dialogue amid the US' introduction of reciprocal tariffs.
Top European Union officials are expected to visit Beijing in late July for a summit with Chinese President Xi Jinping, the South China Morning Post reported. While no official date has been confirmed by China, the reported visit signals the EU's intent to strengthen ties with Beijing amid strained relations with the US.
In company news, Hunan Goldposted 2024 net profit attributable to shareholders of 846.5 million yuan, up 73% from 489.1 million yuan the previous year. Shares of the miner closed 5% higher Friday.
Sumber : MT Newswires
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