JKB Financial Services Ltd.

As on : 24-Feb-2025

Market Commentary - Foreign Markets
24-Feb-2025 16:37

China composite index slips 0.18%

Asian stocks ended mostly lower on Monday as weak U.S. economic data rekindled growth worries and U.S. President Donald Trump reiterated that his administration would impose reciprocal tariffs soon on countries like India and China.

Also weighing on markets, researchers in China said they discovered a new coronavirus in bats that enters cells using the same gateway as the virus that causes Covid-19.

China's Shanghai Composite index slid 0.18 percent to 3,373.03 after Trump directed a top government committee to limit Chinese investment in energy, technology, and other vital U.S. industries.

Also, media reports suggested that the Trump administration has asked Mexico to levy their own duties on Chinese imports as part of their efforts to avoid possible U.S. tariffs.

On Friday, both the U.S. and China expressed 'serious concerns' over each other's policies in their first call since Trump took office.

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