China, Hong Kong stocks rise, stimulus seen cushioning trade blow [Reuters (UK)]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
China, Hong Kong stocks rise, stimulus seen cushioning trade blow | Reuters 3 Min Read * SSEC +1.0 pct, CSI300 +1.1 pct, HSI +1.0 pct * HK-Shanghai Connect daily quota used 0.8 pct, Shanghai-HK daily quota used 2.5 pct SHANGHAI, Sept 19 (Reuters) - China and Hong Kong stocks gained on Wednesday on expectations that Beijing will undertake further stimulus measures to cushion the impact of fresh U.S. trade tariffs on Chinese goods. ** China will use the continuing trade war as an opportunity to replace imports, promote localisation and accelerate the development of high-tech products, state-run People’s Daily newspaper said in a front-page article on Wednesday. ** The administration of U.S. President Donald Trump said on Monday that it would begin to levy new tariffs of 10 percent on $200 billion of Chinese products on Sept. 24, with the tariffs to go up to 25 percent by the end of 2018. China hit back, saying it will levy tariffs on about $60 billion worth of U.S. goods, as previously
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