Chinese stocks continued falling for a second straight day on Thursday following a decline in tech stocks and the tariffs set by the US on aluminum and steel.
The Shanghai Composite Index, the main gauge of Chinese stocks, fell 0.39% or by 13.20 points to 3,358.73. The Shenzhen Component Index slipped 0.99% or by 107.03 points to 10,736.19.
The CSI Artificial Intelligence Index declined 37.27 points, or by 2.58%, to 1,423.12. The decline was the biggest in two weeks, according to Reuters.
Meanwhile, US President Donald Trump raised the tariffs on all aluminum and steel imports to 25%, according to a separate Reuters report.
Chinese Foreign Ministry Spokesperson Mao Ning said it will take all "necessary measures" to safeguard its interests, adding the tariffs are a "serious violation" of World Trade Organization rules.
Beijing also called on Washington to stop using the fentanyl issue to "blackmail" the country after the Trump administration raised tariffs on all Chinese imports to 20% from 10%, Reuters reported separately, citing a senior Chinese foreign ministry official.
"The United States doesn't appreciate this kindness. On the contrary, it is using the fentanyl issue to spread all kinds of lies and has been smearing China, shifting the blame, regardless of the progress of the cooperation," Reuters quoted the official as saying.
On the corporate front, Lens Technology (SHE:300433) closed 8% lower following news it plans to list its shares on the Hong Kong Stock Exchange.
Baoshan Iron & Steel or Baosteel (SHA:600019) finished 1% higher, while Shennan Circuit (SHE:002916) also closed 1% higher following a 34% rise in 2024 profit.
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