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在线翻译:
szdaily -> Business_Markets -> 
Investors shrug off new tariffs
    2018-08-24  08:53    Shenzhen Daily

CHINA’S stock markets ended higher Thursday, as investors looked past new tariffs the United States and China slapped on each other’s goods in the latest escalation of the trade war between the world’s two largest economies.

The Shanghai Composite index ended 0.4 percent higher. The country’s blue-chip index also gained 0.4 percent.

The United States and China enacted 25 percent tariffs on US$16 billion worth of the other’s goods, following through on threats made earlier this month.

While the immediate market reaction to the tariffs taking effect Thursday was muted, investors and analysts will look to see how the increased trade barriers impact corporate earnings in months ahead.

“The tariffs were fully expected by the market. But the future of the discussions and how the United States and China will play the game remain great unknowns at the moment,” said Zhang Gang, an analyst at Central China Securities in Shanghai.

“The correction in A shares over the past few days has already basically reflected the negative factors pulling down the market,” he said.

Trade volumes were relatively light, with about 9.84 billion shares traded on the Shanghai exchange, roughly 72.6 percent of the market’s 30-day moving average of 13.57 billion shares a day.

The new tariffs on U.S. and Chinese goods bring to US$100 billion the combined value of both country’s products hit by tariffs since early July, and threaten to deepen the risks to global growth posed by the Sino-U.S. trade tensions.

The smaller Shenzhen index ended up 0.6 percent and the startup board ChiNext composite index was higher by 1.1 percent.

So far this year, the Shanghai and CSI300 stock indexes have both fallen 17.6 percent, making them the world’s worst-performing major indexes. Shanghai stocks have declined 5.1 percent this month.

Among the day’s winners was Ping An Insurance, which extended a rally this week to end 2 percent higher. The company Tuesday reported its largest half-yearly profit in at least a decade.

The rise in Ping An shares helped to lift financial sector sub-index, which gained 0.5 percent. (SD-Agencies)

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