FX.co ★ China Stocks Fall on Renewed US Tariff Concerns

The Shanghai Composite index declined by 0.6% to approximately 3,340, while the Shenzhen Component index fell by 0.9% to 10,030 on Friday. This downturn reversed the gains seen during the previous trading session, as renewed concerns over tariffs unsettled investor confidence. A United States appeals court has reinstated the reciprocal tariffs imposed by former President Donald Trump, overturning an earlier federal court decision that had declared them unlawful. This comes on the heels of directives from the Trump administration this week, instructing US companies to cease certain semiconductor software sales to China, thereby exacerbating the already strained trade relations between China and the US. Domestically, investors are now focusing on the upcoming Purchasing Managers' Index (PMI) data for May, set to be released over the weekend, which is expected to provide insights into how trade tensions are affecting China's manufacturing and services sectors. Significant losses were noted among major stocks, including BYD Company, which fell by 2.5%, Contemporary Amperex, down by 1.3%, and Kweichow Moutai, also decreasing by 1.3%.