Markets in China were down this morning on gloomy macroeconomic data showing a possible contraction of activity caused by President Trump’s trade war. The S&P 500, by contrast, notched six straight days of gains on hopes that as Trump makes further compromises on tariffs the worst may be behind us.
The trade war has begun to take its toll on Chinese stocks, which until recently had been more resilient than U.S. equities to President Trump’s incoming tariffs. China’s SSE was down 0.23% today and the CSI 300 was down 0.12%, following news that new export orders in China fell in April to their lowest since COVID-19. China’s purchasing managers’ index for manufacturing fell to 49, indicating a contraction in activity.
However, new data emerged showing a drastic reduction in export shipping from China to the U.S. and investors appear to have reacted as a result. While the S&P has now notched six straight days of gains, the CSI has lost 0.45% over the same period.
The trade war has begun to take its toll on Chinese stocks, which until recently had been more resilient than U.S. equities to President Trump’s incoming tariffs. China’s SSE was down 0.23% today and the CSI 300 was down 0.12%, following news that new export orders in China fell in April to their lowest since COVID-19. China’s purchasing managers’ index for manufacturing fell to 49, indicating a contraction in activity.
However, new data emerged showing a drastic reduction in export shipping from China to the U.S. and investors appear to have reacted as a result. While the S&P has now notched six straight days of gains, the CSI has lost 0.45% over the same period.
9 days ago
