Published on 08/04/2025 at 03:56 am EDT
(MT Newswires) -- Chinese stocks closed higher Monday following a decline in the previous week amid anticipation of the effects of a trade truce between the US and China expiring Aug. 12.
The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.7% or by 23.36 points to 3,583.31. The Shenzhen Component Index inched up 0.5% or by 50.24 points to 11,041.56.
The Shanghai index has been down 0.4% over the past five days while the Shenzhen index has been down 1.4%.
Negotiations on the supply of magnets from China to the US are about "halfway there," Bloomberg News reported Monday, citing US Trade Representative Jamieson Greer.
The talks come after China restricted rare earth magnet exports in April to retaliate against US tariffs on Chinese goods.
Meanwhile, China's finance ministry will resume taxing interest income on bonds issued by governments and financial institutions on Aug. 8 following a decades-long exemption.
In corporate news, Ninebot'sfirst-half profit soared 108% 1.24 billion yuan. Shares in the Chinese robotic transport company closed 4% higher.
Sumber : MT Newswires
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