Apr 23, 2025, 14:38 GMT+71 min read
(MT Newswires) - Chinese shares finished on a mixed note for the second straight day on Wednesday amid cautious optimism about a de-escalation of its brutal trade war with the US.
The Shanghai Composite Index, the main gauge of Chinese stocks, inched down 0.10% or by 3.40 points to 3,296.36. The Shenzhen Component Index rose 0.67% or by 65.74 points to 9,935.80.
US Trade Secretary Scott Bessent said the tariff war with China was "unsustainable," although talks between Washington and Beijing have yet to start, the Associated Press reported Wednesday.
"I do say China is going to be a slog in terms of the negotiations," the AP quoted Bessent as saying.
Meanwhile, US President Donald Trump did not confirm whether the tariff tit-for-tat was unsustainable but added he would be "very nice" with Beijing and not go full blast against Chinese President Xi Jinping, the AP said.
"We're going to live together very happily and ideally work together," the AP quoted Trump as saying.
Elsewhere, the International Monetary Fund also cut its 2025 growth forecast for China to 4%, down 0.6 of a point, due to increasing global tariffs and trade uncertainty.
"We expect it to remain quite significant also in 2026 when we also have a downward revision by about 0.5 percentage points," Pierre-Olivier Gourinchas, director at the IMF's research department, said.
In corporate news, BYD'sShenzhen stock finished 5% higher after launching its "world's largest" vehicle cargo ship, seen to transport up to 9,200 vehicles and is powered by liquefied natural gas.

Sumber : MT Newswires