Chinese onshore stocks fall as tariff talks make no headway
Trade tensions rise after US says Chinese ships would be required to pay fees when docking at US ports
The Shanghai Composite Index closed 0.1 per cent lower at 3,276.73, trimming the weekly gain to 1.2 per cent. The CSI 300 Index was little changed.
Hong Kong’s market was closed for a public holiday on Friday.
The nation’s biggest companies mostly traded lower. Kweichow Moutai, the world’s most valuable liquor maker, eased 0.3 per cent to 1,565.94 yuan. Coal producer China Shenhua Energy lost 0.2 per cent to 39.20 yuan and electric-vehicle maker BYD slid 1.1 per cent to 346 yuan.
US President Donald Trump said on Thursday that China and the US were engaged in trade talks, but he gave no evidence of any progress.
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In another sign of escalating tensions between the two nations, the US Trade Representative’s Office said that Chinese-owned or Chinese-built ships would be required to pay fees for docking at US ports, with charges increasing over time based on the vessel’s size and cargo.