Chinese Stocks Rally for Third Straight Day on Trade Truce Extension Hopes; Hygon Shares Fall 4%

Published on 08/06/2025 at 03:50 am EDT
(MT Newswires) -- Chinese stocks edged higher for the third straight session this week on optimism regarding an extended trade truce between the US and China.
The Shanghai Composite Index, the main gauge of Chinese stocks, grew 0.5% or by 16.40 points to 3,633.99. The Shenzhen Component Index increased 0.6% or by 70.82 points to 11,177.78.
US President Donald Trump said Tuesday both countries are coming closer to a trade deal, Reuters reported separately.
"We're getting very close to a deal. We're getting along with China very well," Reuters quoted Trump as saying.
Investors are watching a potential de-escalation of tensions between the two powers since early May, while others seek more clarity regarding negotiations, the report said, citing analysts from HSBC Qianhai Securities and Matthews Asia.
In the property sector, Fitch Ratings expects a decline in Chinese new home sales to soften to 7% from a 15% drop on the heels of better market performance.
Despite the improvements due to government support, medium-term risks remain high, especially in the second half as weaker momentum could drag performance, Fitch said.
On the corporate front, Hygon'sshares fell 4% despite posting a 41% rise in attributable profit to 1.20 billion yuan in the first half.

Sumber : MT Newswires