Revived US trade war knocks China`s stocks from lofty peaks

China stocks fell sharply on Monday as a renewed trade war between Washington and Beijing hit risk appetite and spurred profit-taking in a share market hovering near its highest level in a decade.
The blue-chip CSI300 Index and the Shanghai Composite Index fell nearly 2% in early trading. Hong Kong's Hang Seng benchmark HSI was down more than 2%.
Defying the broader selloff, China's strategic sectors including rare earths and semiconductors were up in early trade.
However, investors and analysts believe the sell-off will be less severe than the panic-selling seen in April, when U.S. President Donald Trump kicked off a global tariff war. Bond prices are expected to rise on Monday.
Trump on Friday unveiled additional levies of 100% on China's U.S.-bound exports, along with new export controls on critical software by November 1, in a reprisal against China curbing its critical rare earth exports.
The threats, made after Asian markets closed, sent U.S. and European markets sharply lower. An index tracking Nasdaq-listed China stocks tumbled 6%, while the U.S.-listed KraneShares CSI China Internet ETF plunged 7%.

Sumber : Reuters