Chinese Shares Slide Further Amid Tariff Uncertainty, Profit-Taking

Published on 09/03/2025 at 04:03 am EDT
(MT Newswires) -- Chinese shares were down on Wednesday, tracking the losses of their Wall Street peers, amid uncertainty over US trade tariffs and some profit-taking after reaching multi-year highs in August.
The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.2 to 3,813.56. The Shenzhen Component Index declined 0.7% to 12,472.00. Both indices were down for a second straight session.
Investors avoided riskier assets amid higher uncertainty following a US federal appeals court ruling that US President Donald Trump's reciprocal tariffs were illegal, potentially affecting Washington's recent trade deals with major economies, Investing.com reported.
Shares also declined amid some profit-taking on the Shanghai and Shjenzhen bourses, with stocks posting their biggest monthly jump since September 2024 at the end of trading in August. Shanghai shares surged 7% last month, while Shenzhen stocks soared 12%.
On the economic front, China's services sector increased the fastest since May 2024 on a strong showing in new orders and new exports. The RatingDog China General Services Business Activity grew to 53 in August from 52.6 in July, extending a growth trend that began in January 2023.
In company news, Liaoning Shenhua (SHA:600653) intends to contribute 20 million yuan in the establishment of Shenyang Automotive Industry Investment Fund. Shares of the automotive sales services provider fell 4% Wednesday.

Sumber : MT Newswires