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As on : 21-Jan-2025

Market Commentary - Foreign Markets
21-Jan-2025 15:26

China Shanghai composite index end marginally lower

Asian stocks ended Tuesday's session on a mixed note as U.S. President Donald Trump announced plans to impose 25 percent tariffs on imports from Canada and Mexico, and said tariffs on China could hinge on a deal over TikTok's ownership.

The dollar fell and gold hit a ten-week high after Trump held off from imposing sweeping trade tariffs in his first day in office and announced a national energy emergency in order to end the inflation crisis.

Oil prices traded mixed in Asian trade in the wake of Trump's plan to boost oil and gas production in the United States and lower costs for consumers.

China's Shanghai Composite index ended marginally lower at 3,242.62 after a choppy session.

Hong Kong's Hang Seng index jumped 0.91 percent to 20,106.55, with property developers in focus after Bloomberg reported that officials are taking steps to stabilize operations at China Vanke Co.

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