China stocks fall after Trump's win as tariff promises loom

Yahoo Finance11-06 23:53

Major US-listed Chinese stocks dropped following a decisive US election win for Republican nominee and former president Donald Trump, who threatened new tariffs on the campaign trail with a particular...

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The stocks pared losses as the morning continued.Overnight in China, the Hang Seng Index  dropped 2.2% while the Shanghai Composite Index  fell less than 0.1%.During the campaign, Trump promised to implement tariffs at levels unseen since the Great Depression.Trump in his last term was largely successful in enacting restrictive trade policies, and as Yahoo Finance’s Ben Werschkul has reported, Trump has considerable authority to act unilaterally to make good on his latest tariff promises.\"The question is, who could fill the gap left by China given","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4514":"搜索引擎","BK4563":"昨日强势股","BK4513":"直播概念","LU1008478684.HKD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (HKD) ACC","LU1152091168.USD":"UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) \"PM\" INC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","BK4581":"高盛持仓","LU0633140727.USD":"AB EMERGING MARKETS MULTI ASSET PORTFOLIO \"AD\" (USD) INC","LU0594300179.USD":"FIDELITY CHINA CONSUMER \"A\" (USD) ACC","IE0034224299.USD":"PINEBRIDGE ASIA EX JAPAN EQUITY \"A\" (USD) ACC","BK4574":"无人驾驶","LU0052750758.USD":"富兰克林中国基金A Acc","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","BK4585":"ETF&股票定投概念","LU0173614495.USD":"富达中国焦点A","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0106959298.USD":"UBS (LUX) EQUITY FUND - EMERGING MARKETS SUSTAINABLE LEADERS (USD) \"P\" (USD) ACC","HBBD.SI":"Alibaba HK SDR 5to1","JD":"京东","BIDU":"百度","BILI":"哔哩哔哩","LU0140636845.USD":"施罗德大中华区股票A Acc","BK4566":"资本集团","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","BABA":"阿里巴巴","LU1046422090.SGD":"Fidelity Pacific A-SGD","HK0000320264.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) ACC","BK4501":"段永平概念","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","BK4526":"热门中概股","K3SD.SI":"u BIDU ADR US$+","HK0000306685.HKD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (HKD) INC","BK4503":"景林资产持仓","LU2226246903.HKD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT4\" (HKD) ACC","L":"洛斯公司","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU0143863784.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"DU\" (USD) ACC","BK4502":"阿里概念","BK4551":"寇图资本持仓","LU0455707207.USD":"FIDELITY FUNDS  CHINA INNOVATION \"A\" (USD) INC","LU0417516902.SGD":"Allianz China Equity Cl AT Acc SGD","LU1823568750.SGD":"Fidelity Global Technology A-ACC SGD","09618":"京东集团-SW","LU0683595622.HKD":"AB SICAV I-EM.MKTS MUL.ASS.PTF(AD)","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","BK4510":"在线教育","09988":"阿里巴巴-W","LU0456827905.SGD":"JPMorgan Funds - China A (acc) SGD","HK0000306701.USD":"TAIKANG KAITAI CHINA NEW OPPORTUNITIES FUND \"A\" (USD) INC","PDD":"拼多多"},"translate_title":"特朗普获胜后，关税承诺迫在眉睫，中国股市下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDD":1,"BABA":1,"BIDU":1,"BILI":1,"JD":1,"HBBD.SI":0.9,"K3SD.SI":0.9,"L":0.6,"09988":0.6,"09618":0.6},"content_text":"Major US-listed Chinese stocks dropped following a decisive US election win for Republican nominee and former president Donald Trump, who threatened new tariffs on the campaign trail with a particular focus on Chinese impots. \nShares of US-listed Chinese e-commerce giant Alibaba (BABA) shares fell as much as 4.5%, while JD.com (JD) dropped as much as 7.7%, Bilibili (BILI) stock fell up to 7.8%, Baidu (BIDU) sank as much as 2.9%, and PDD Holdings (PDD) tumbled up to 5.1%. The stocks pared losses as the morning continued.\nOvernight in China, the Hang Seng Index (^HSI) dropped 2.2% while the Shanghai Composite Index (000001.SS) fell less than 0.1%.\nDuring the campaign, Trump promised to implement tariffs at levels unseen since the Great Depression. \nThe President-elect suggested imposing 10%-20% tariffs across the board and a 60% tariff on goods from China, which would cost US families an extra $1,700 to $2,600 per year, according to a September report from the nonpartisan Peterson Institute for International Economics. The United States imported $3.8 trillion worth of goods in 2023. \nTrump in his last term was largely successful in enacting restrictive trade policies, and as Yahoo Finance’s Ben Werschkul has reported, Trump has considerable authority to act unilaterally to make good on his latest tariff promises.\n\n\n\n  Women stand near a display board showing Chinese stock market movements on the U.S. presidential election day in Beijing, Wednesday, Nov. 6, 2024. (AP Photo/Ng Han Guan)\n \n\n  ASSOCIATED PRESS\n \n\nThe Peterson Institute in its report said that such trade policies from Trump could also result in retaliatory tariffs on US goods imported by other countries, squeezing US businesses. \n“To me, the most beautiful word in the dictionary is tariff, and it’s my favorite word,” Trump told Bloomberg in an interview Oct. 15 at the Economic Club of Chicago. “It needs a public relations firm.” \nTrump has said he will enact such tariffs “quickly.”\nCoupled with his proposed mass deportation effort and immigration curbs, Trump's tariffs could hit GDP growth by roughly 1% and add 1% to inflation, according to a report from Capital Economics published late Tuesday. \nTrump has proposed using such tariffs to fund government programs rather than income taxes. Still, those tariffs would likely raise more than $200 billion annually, far short of the estimated $7.75 trillion in federal debt Trump’s other policies are expected to rack up.\nTo be sure, both parties have taken restrictive stances on trade with China. The Biden administration increased tariffs on $18 billion worth of imports from China in May. While Democratic presidential nominee Kamala Harris was critical of the Trump campaign’s tariff proposals, she was expected to keep current, higher duties in place.\nA 60% tariff on Chinese goods could reduce Chinese GDP growth by 2.4 percentage points, according to Citi analysts. \n\"The question is, who could fill the gap left by China given China's dominance in global manufacturing?\" the firm wrote in a note Wednesday morning. \"Supply-side adjustment could be very difficult in the near term, if not impossible.\"\nStill, they said Trump's 60% tariff proposal is \"more likely to be a bargaining chip than a real risk.\"\n\"China thinks we’re a stupid country. A very stupid country,\" Trump told Bloomberg in the October interview. \"They can’t believe that somebody finally got wise to them.\"\nLaura Bratton is a reporter for Yahoo Finance. Follow her on X @LauraBratton5.\nClick here for the latest stock market news and in-depth analysis, including events that move stocks\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481982708"}