Chinese stocks fall after Wall St gains amid trade war

Published: July 06, 2018 11:58:23 | Updated: July 09, 2018 12:58:54


Chinese shares fell on Friday and the yuan was also off against the dollar after US stocks ended higher on Thursday amid the trade row between the two superpowers.

The United States imposed tariffs on $34 billion of Chinese imports at 0401 GMT on Friday and. Beijing has vowed to immediately respond with an equal amount of tariffs of its own against US products.

As of the midday trading break that started a half hour before the tariffs took effect, the benchmark CSI300 Index was down 0.1 per cent, after earlier falling as much as 1.4 per cent, reports Reuters.

The Shanghai Composite Index fell about 0.3 per cent after flirting with two-year lows. The fall put Shanghai stocks on track for their seventh week of declines in a row.

At 0413 GMT, the yuan was at 6.6570 per dollar and trading in a tight range after ending the late session on Thursday at 6.6371.

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