China stocks open higher after holiday as investors cheer US tariff ruling
But analysts expect the U.S. tariffs reset will lead to lower rates for China, and could weaken Trump's hand in trade talks with Beijing. Export-related sectors, including consumer electronics and machinery rose.
- Country:
- China
China stocks opened higher on Tuesday, as traders returning from a nine-day holiday bid up shares across sectors from consumer electronics to machinery, betting that the U.S. Supreme Court's ruling against President Donald Trump's emergency tariffs will benefit Chinese exports. China's blue-chip CSI300 Index rose 1.4% at the opening bell, while the Shanghai Composite Index gained 1.2%.
Hong Kong's Hang Seng, which jumped 2.5% on Monday in response to the U.S. tariff twist, corrected over 1%. The U.S. Supreme Court annulment of Trump's "reciprocal" tariffs and Trump's subsequent move to impose a temporary 15% global tariff have thrown world trade into a new bout of confusion and sagged U.S. equity markets on Monday. But analysts expect the U.S. tariffs reset will lead to lower rates for China, and could weaken Trump's hand in trade talks with Beijing.
Export-related sectors, including consumer electronics and machinery rose. Gold-related stocks jumped amid growing trade uncertainty.
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