Tech firms drag down China stocks amid U.S. protectionism worries
Wednesday, 14 March 2018 14:48 WIB |
MARKET UPDATE |SahamChina Indeks CSI
China stocks retreated on Wednesday, weighed down by tech firms, as U.S. protectionism fears overshadowed strong China factory and investment data, while a regulatory crackdown on speculation dampened risk appetite further.
At the close, the Shanghai Composite index was down 0.6 percent at 3,291.38, while the blue-chips CSI300 index ended 0.4 percent lower at 4,073.34.
China™s industrial output grew much faster than expected at the start of the year, suggesting the economy may be picking up momentum even as U.S. President Donald Trump readies hefty tariffs against one its most strategic growth drivers ” technology.
Tariffs on tech exports could potentially hit the fastest growing segment of China™s industrial sector, an area that the country™s leaders have been keen to promote as they push for œhigher quality economic growth.
Source : Reuters