China stocks closed lower on Thursday as investors fretted about the possible imposition of new U.S. tariffs on imported goods from China, which could come as early as this week.
A public consultation period on plans by Washington to impose tariffs on an additional $200 billion worth of Chinese imports ends on Thursday. A Bloomberg report said Trump plans to impose the tariffs after that deadline.
However, U.S. President Donald Trump said on Wednesday that the United States was not yet ready to come to an agreement over trade disputes with China but added talks would continue.
At the close, the Shanghai Composite index ended 12.74 points, or 0.5 percent, lower at 2,704.34.
The blue-chip CSI300 index ended down 1.07 percent, with its financial sector sub-index lower by 0.93 percent, the consumer staples sector down 2.56 percent, the real estate index down 2.22 percent and healthcare sub-index down 1.38 percent.
Shares in Chinese natural gas firms closed higher as investors expect them to benefit from Beijing’s policies to support the sector. Chongqing Gas Group Co Ltd ended up 6.1 percent and Foshan Gas Group Co Ltd climbed 5.2 percent.
Source : Reuters