Chinese Shares Rise on Tariff Truce; Desay SV Automotive Jumps 7%

Published on 08/12/2025 at 03:38 am EDT
(MT Newswires) -- Chinese shares rose in Tuesday's trade as both the US and China suspended additional tariffs on goods.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.5% to 3,665.92. The Shenzhen Component Index rose 0.5% to 11,351.36.
China on Tuesday suspended the 24% additional tariffs on some of the US imports for 90 days, while maintaining the additional 10% tariff rate.
Meanwhile, US President Donald Trump extended a truce on tariffs imposed against China for another 90 days. Washington's reciprocal 10% tariffs against China remain in effect even during the suspension of tariffs, set to last until Nov. 10.
The moves are part of the consensus reached in the China-US economic and trade talks. with the extension being the expected outcome following talks in Stockholm.
In company news, shares of Up-shine Lighting climbed 8.6% versus its initial public offering price of 51.05 yuan on the first day of its trading on the Shenzhen Stock Exchange's ChiNext board.
In company news, Huizhou Desay SV Automotive posted first-half attributable net profit of 1.22 billion yuan, up 43% from 838.4 million yuan the previous year. Shares of the automotive electronics product maker jumped 7% Tuesday.

Sumber : MT Newswires