Chinese Stock Muted as Concerns Linger Over Trade Talks With US

MT Newswires Live07-28

Chinese shares finished flat in positive territory on Monday as investors remained cautious about the results of trade talks with the US that could potentially extend the tariff reprieve.

The Shanghai Composite Index, the main gauge of Chinese stocks, marginally rose to close Monday's trade at 3,597.94. The Shenzhen Component Index edged up increased 0.4%, or 49.44 points, to 11,217.58.

Chinese negotiations team met with its US counterparts in Sweden to discuss the possibility of extending the deal to keep tariffs at bay between the two countries beyond Aug. 12. China is under pressure to reach a stable tariff deal with US President Donald Trump before the deadline.

In corporate news, Jiangsu Aidea Pharmaceutical's (SHA:688488) shares jumped 7.2% after its core anti-HIV drug is officially authorized for commercial sale in the East African region of Zanzibar.

Jiangsu Hengrui Medicine's (SHA:600276, HKG:1276) Shanghai shares jumped 10%, while its Hong Kong shares soared 17.6% after acquiring an additional 1.46% stake in Chengdu Shengdi Pharmaceutical for 40 million yuan.

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