April 24, 2025 at 04:01 am EDT
(MT Newswires) -- Chinese stocks ended on a mixed note for the third consecutive day this week after Washington expressed willingness to de-escalate the trade war with Beijing but ruled out reducing tariffs unilaterally.
The Shanghai Composite Index, the main gauge of Chinese stocks, inched up 0.028% or by 0.93 points to 3,297.29. The Shenzhen Component Index fell 0.58% or by 57.48 points to 9,878.32.
The US could lower tariffs on Chinese imports to between 50% and 65% from 145%, according to a Reuters report, citing a source.
US Press Secretary Karoline Leavitt said there would be "no unilateral reduction in tariffs against China," echoing the statement of Treasury Secretary Scott Bessent.
"The president has made it clear, China needs to make a deal with the United States of America, and we are optimistic that will happen," the Wall Street Journal reported, citing Leavitt's comments in a television interview on Fox.
The tariff war has also extended to the United Nations Security Council, with diplomats from both countries exchanging barbs and bombarding each other with accusations of unfair trading practices during the meeting.
In corporate news, debutant Giansun Precision Technology closed 79% higher. The Chinese equipment manufacturer opened at 84.50 yuan, 126% higher than its offering of 37.36 yuan.
Meanwhile, Heilongjiang Tianyouwei Electronics closed 24% higher on its first trading day in Shanghai. The maker of electronic meters, navigation systems, and other products for automobiles opened at 140 yuan, 50% higher than the 93.50 yuan price it offered.

Sumber : MT Newswires