Market Updates
China Indexes Remain Under Pressure Amid Rapidly Deteriorating U.S.-China Relations
Li Chen
11 Apr, 2025
Hong Kong
Stocks in China and Hong Kong extended their weekly losses amid rapidly escalating trade tensions between the U.S. and China.
The Hang Seng index fell as much as 0.9% but recovered in the final hour of trading, and the CSI 300 index rebounded from a loss of 0.5%.
For the week to Thursday, the Hang Seng index fell 10%, the largest weekly decline since the fall of 13.3% in the final week of October 2008, and the index extended its losses to the fifth consecutive week.
Chinese market indexes slumped after the U.S. president announced stiff tariffs on imports from all countries and levied its maximum import tax on Chinese goods.
Earlier in the week, the Trump administration paused so-called reciprocal tariffs on all countries but ramped up cumulative tariffs on China to 154%, prompting Beijing to announce its retaliatory tariffs of 84%.
China is set to announce additional tariffs on U.S. goods and raise barriers for U.S. service providers amid rapidly deteriorating relationships between the two largest economies in the world.
In addition, China-controlled entities stepped up their purchase of equities, and more than 100 companies announced stock buybacks totaling $2.7 billion.
China Indexes and Stocks
The Hang Seng index advanced 0.9% to 20,865.32, and the mainland-focused CSI 300 index added 0.2% to 3,740.38.
Alibaba Group Holding edged up 0.6% to HK 3,740.36, Tencent Holdings advanced 1.4% to HK 3,740.36, and Baidu Inc. added 1.5% to HK 80.75.
BYD gained 6.7% to HK 368.60, Li Auto Inc. jumped 7.5% to HK 91.45, and Xpeng advanced 9.4% to HK 77.90.
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