HEADLINE Chinese shares gain as Trump shifted trade tones

HEADLINE

Chinese shares gain as Trump shifted trade tones

By Qiao Wai

11:48, April 09, 2018

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Main Chinese shares climed during the morning trading on Monday, as Trump tweeted Sunday that "China will take down its Trade Barriers". 

Briefly diped to 0.55 percent to 10,626.18 points after opening, the Shenzhen Component Index gained 0.20 percent to 1075.58 . The Shenzhen Composite Index also saw a rise of 0.27 percent at 1,836.66 before noon.

The Benchmark Shanghai Composite Index increased 0.37 percent, at 3,142.58 points.

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On Sunday morning, Trump tweeted that Chinese "President Xi (Jinping) and I will always be friends, no matter what happens with our dispute on trade."

"China will take down its Trade Barriers because it is the right thing to do. Taxes will become Reciprocal and a deal will be made on Intellectual Property. Great future for both countries!" he continued.

Chinese media remains cautious towards Trump’s softened trade tone. 

The Global Times reminds that Washington's tactics have been known to change tones erratically since the China-US trade friction began; meanwhile, Beijing's strategy by sticking to its principles regardless of tension has proven to be an effective strategy.

It should be noted that China said recent negotiations among trade officials from both countries have not happened and no statements have been made from China’s official channel on Trump’s tweet.

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