Chinese Stocks Finish With Gains As Trade Talks With US Continue

MT Newswires Live07-29

Chinese shares closed with gains as trade talks with the US was expected to continue on Tuesday, with hopes that the tariff reprieve will be extended.

The Shanghai Composite Index, the main gauge of Chinese stocks, added 0.3%, or 11.77 points, to finish Tuesday's trade at 3,609.71. The Shenzhen Component Index edged up 0.6%, or 71.83 points, to 11,289.41.

Chinese economic officials met with their American counterparts in Sweden on Monday to discuss ways to alleviate trade tensions between them as China faces an Aug. 12 deadline to strike a tariff deal with the White House.

Neither side discussed the details of the negotiations, which are expected to resume on the following day.

In corporate news, Chengdu Easton Biopharmaceuticals (SHA:688513) surged 15.5% after its unit, Chengdu Shuode Pharmaceutical, received a drug registration certificate from the Chinese drug administration for perindopril and amlodipine tablets (III).

Zhejiang Tianyu Pharmaceutical (SHE:300702) jumped 3.1% after getting a European certificate for the sitagliptin phosphate active pharmaceutical ingredient.

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