Mainland stocks fall as investors fear more tariffs

Source:Reuters-Global Times Published: 2018/9/6 18:03:41

Chinese mainland stocks closed lower on Thursday as investors fretted about the possible imposition of new US tariffs on imported goods from China, which could come as early as this week.

"We still see that a negotiated settlement would be the most likely outcome, but do not expect this to come soon," analysts at Everbright Sun Hung Kai said in a note. "An agreement still seems unreachable as of yet, given the unwavering stances of both sides on key facets of the disagreements, which, for the US, may hinge on whether China makes greater concessions, as Trump reportedly told reporters in his comments, more so than what China has done already."

At the close, the Shanghai Composite Index ended 0.47 percent lower at 2,691.59 points.

Meanwhile, the blue-chip CSI300 index ended down 1.07 percent at 3,262.88 points, with its financial sector sub-index lower by 0.93 percent, the consumer staples sector down 2.56 percent, the real estate index down 2.22 percent and the healthcare sub-index down 1.38 percent.

Shares in Chinese natural gas firms closed higher as investors expect them to benefit from Chinese authorities' policies to support the sector.

Chongqing Gas Group Co ended up 6.1 percent and Foshan Gas Group Co climbed 5.2 percent.

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