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在线翻译:
szdaily -> Markets -> 
Investors brace for countermeasures against US tariffs
    2018-04-05  08:53    Shenzhen Daily

CHINA’S stocks gave up early gains and ended slightly lower yesterday as investors trimmed their equity exposure ahead of the Tomb Sweeping holiday break and as they braced for the government’s countermeasures against U.S. tariffs on Chinese exports.

While there was some lingering unease among investors, most see the widely-expected U.S. sanctions as having negligible impact on growth, and expect a full-blown trade war will be averted through negotiations.

Both the blue-chip CSI300 index and the Shanghai Composite Index dipped 0.2 percent to 3,854.86 points and 3,131.11 points, respectively.

Most sectors fell but the consumer sector, which is widely seen as immune to trade disputes, rose more than 3 percent. Gold stocks also strengthened, reflecting simmering anxiety over Sino-U.S. trade relations.

Late Tuesday, the Trump administration announced 25 percent tariffs on US$50 billion in annual imports from China, covering around 1,300 industrial technology, transport and medical products.

China’s commerce ministry immediately warned it was preparing countermeasures of equal intensity, with a press conference slated late yesterday afternoon to discuss Sino-U.S. relations.

But there were no signs of the kind of panic seen about two weeks ago when U.S. President Donald Trump vowed to impose tariffs on up to US$60 billion in imports from China, raising fears of a trade war and triggering a selloff in risky assets.

“The market reaction has been calm because investors are psychologically prepared for the move,” said Tai Hui, chief market strategist for Asia Pacific, J.P. Morgan Asset Management.

“The largest concern remains whether this trade tension could further escalate, but history suggests negotiation is likely to follow, which would provide some much needed short term relief to investors and allow them to focus back on economic and corporate fundamentals, which are still in decent shape.”

(SD-Agencies)

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