Shanghai Composite rises 0.3% as Chinese stocks await trade data

  • Shanghai Composite rose while Shenzhen Component fell as investors awaited China’s trade data.
  • Exports are forecast to grow 25% in August, compared with 23.9% in July.
  • Beijing announced preliminary anti-dumping measures on Japanese semiconductor-production chemical imports.

Chinese equities delivered a mixed session on Tuesday as investors took a cautious approach ahead of trade data due later in the day. The Shanghai Composite rose 0.3% to 3,945, while the Shenzhen Component fell 0.3% to 13,731. Economists expect August exports to grow 25% year-on-year, up from 23.9% in July, and imports to expand 30%, compared with 27.5% previously. Risk appetite was also weakened after Beijing announced preliminary anti-dumping measures on Japanese imports of a chemical used in semiconductor production. The action adds to retaliatory measures associated with the ongoing Taiwan-related dispute between China and Japan. Zijin Mining Group, China Petroleum and Chemical Corporation, and China CITIC Bank gained, while CATL, Weichai Power, and Muyuan Foods Group declined.

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