- Title: Asia shares edge higher amid US-China trade tensions
- Date: 5th February 2025
- Summary: (SOUNDBITE) (English) SUPPLY CHAIN EXPERT AND SENIOR PARTNER AT TIDALWAVE SOLUTIONS, CAMERON JOHNSON, SAYING: "So devaluing the currency at the moment really isn't in China's strategy. It doesn't really help. Also, the U.S. dollar has gained on the RMB (renminbi or Chinese yuan) by about 12-13% already. So we don't see that as a play. What we do see is China will not make
- Embargoed: 19th February 2025 04:09
- Keywords: Japan KOSPI Korea Composite Stock Price Index Nikkei 225 Seoul South Korea Tokyo Tokyo Stock Exchange stock market stock prices
- Location: SHANGHAI, HONG KONG, CHINA / TOKYO, JAPAN / SEOUL, SOUTH KOREA
- City: SHANGHAI, HONG KONG, CHINA / TOKYO, JAPAN / SEOUL, SOUTH KOREA
- Country: Various
- Topics: Economic Events
- Reuters ID: LVA007885605022025RP1
- Aspect Ratio: 16:9
- Story Text: Asian stock markets tried to steady on Wednesday (February 5) amid hopes that U.S. tariffs would not be as painful for the global economy as feared just a day ago.
China's Shanghai Composite (SSE) Index opened up 0.6% while Hong Kong‘s benchmark Hang Seng Index opened down 1.29%. Japan's Nikkei 225 edged up 0.3% and South Korea's benchmark Korea Composite Stock Price Index (KOSPI) bounced 1.2%.
Tariffs so far have been less than what the Trump administration had initially indicated and relief was evident in Hong Kong, where Chinese stocks rallied this week.
The mood was helped by Beijing's relatively restrained response to President Donald Trump's added 10% in tariffs, which covered just $14 billion of U.S. imports.
However, Trump said on Tuesday (February 4) that he was in no hurry to speak to Chinese President Xi Jinping amid the escalating trade war between the two economic powerhouses.
He said "that’s fine" when asked about China's decision to issue retaliatory tariffs on U.S. imports.
Investors were also not entirely sure what to make of comments by Trump that the U.S. would like to take over the war-ravaged Gaza Strip and develop it economically.
(Production: Artorn Pookasook, Hyunyoung Yi, Miyu Arishima, Edmond Ng, Nicoco Chan) - Copyright Holder: REUTERS
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