Published on 06/26/2025 at 03:55
(MT Newswires) - Chinese stocks slipped Thursday, ending a three-day streak as investors brace for the imminent deadline of US President Donald Trump's tariffs.
The Shanghai Composite Index, the main gauge of Chinese stocks, lost 0.2% or 7.52 points to reach 3,448.45. The Shenzhen Component Index fell 0.5% or by 50.25 points to 10,343.48.
Investors are still uncertain about the effects of Trump's self-imposed deadline on July 9. By then, countries without bilateral deals could see tariffs higher than the baseline 10%.
Meanwhile, market watchers are also looking at the effects of the possible replacement of US Federal Reserve Chairman Jerome Powell, whom Trump has criticized for not slashing interest rates, Reuters reported.
Elsewhere, Chinese Premier Li Qiang said the country's shift to a consumption-based economic model could help the country become the world's biggest economic growth driver, Reuters reported, citing his remarks at the Asian Infrastructure Investment Bank's yearly meeting in Beijing.
However, low imports over the past six months have led economists to question the Chinese contribution to regional growth, the report said.
In corporate news, Remegen's Shanghai shares closed 18% lower after the drug company signed a license agreement with Vor Biopharma for the development and sale of Telitacicept worldwide for myasthenia gravis, systemic lupus erythematosus, and rheumatoid arthritis.

Sumber : MT Newswires