China, Hong Kong shares rise as Beijing's efforts to curb price wars lift sentiment
China's blue-chip CSI300 Index climbed 0.7% by the lunch break, while the Shanghai Composite Index gained 0.6%. Hong Kong benchmark Hang Seng was up 0.8%.
Market reaction in Asia was rather muted after US President Donald Trump on Monday began telling trade partners - from powerhouse suppliers like Japan and South Korea to minor players - that sharply higher US tariffs will start August 1, marking a new phase in the trade war he launched earlier this year.
China's top leaders pledged last week to step up regulation of aggressive price-cutting by Chinese companies, as the world's second-biggest economy struggles to shake off persistent deflationary pressures.
Shares of solar manufacturers led gains onshore, with Tongwei up 10%, after China's industry ministry pledged to curb disorderly low-price competition in the photovoltaic industry.
Deeper policy efforts to curb excessive competition are expected to help rebalance industrial supply and demand, support a rebound in producer prices, and improve long-term earnings expectations for A-shares, analysts at Huaxi Securities said in a note.
Semiconductor shares also rose, up 1.1%, as a slew of companies posted upbeat profit alerts.
Consumer-related shares climbed in Hong Kong, as subsidies from food delivery platforms boosted consumer demand. Xiabuxiabu, a hotpot restaurant, rose nearly 7%.
Hang Seng Tech Index was up 1.3%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
5 hours ago
- Express Tribune
Turkish defence minister commends PAF's role in conflict with India
Listen to article Turkish Defence Minister Yaşar Güler has lauded the Pakistan Air Force's exceptional performance under the leadership of Air Chief Marshal Zaheer Ahmed Baber Sidhu in the four-day war with India, commending its operational preparedness and resolute defence of national sovereignty. A high-level delegation led by Güler called on Air Chief Marshal Sidhu during a visit to the Air Headquarters in Islamabad on Wednesday, the military's media wing reported. According to the Inter-Services Public Relations (ISPR), the meeting covered discussions on evolving regional security dynamics, the progress of ongoing defence cooperation, and prospects for future collaboration in emerging domains of warfare. During the meeting, the chief of the air staff highlighted the enduring brotherly ties between Pakistan and Turkiye, emphasising the common aspirations and strategic convergence that bind the two nations. He reaffirmed the Pakistan Air Force's (PAF) steadfast resolve to further strengthen bilateral cooperation in the fields of advanced training and aerospace technologies. TURKISH DEFENCE DELEGATION VISITS AIR HEADQUARTERS — DGPR (AIR FORCE) (@DGPR_PAF) July 9, 2025 The statement added that both dignitaries agreed on the establishment of dedicated joint working groups to streamline and accelerate progress across various sectors of mutual interest. Highlighting the longstanding fraternal ties between Turkiye and Pakistan, Güler conveyed Turkiye's earnest desire to bolster bilateral defence relations through deeper industry-to-industry collaboration. He particularly emphasised the need to explore joint ventures in cutting-edge domains, including disruptive technologies, advanced avionics, and unmanned aerial systems. Read More: Chinese air force chief lauds PAF's performance in conflict with India The statement further mentioned that the Turkish defence minister expressed appreciation for the PAF's continued support in the pilot exchange programme, which he described as a vital initiative for fostering professional growth and operational understanding between the two air forces. 'Both dignitaries concurred on finalising the modalities for enhanced training collaboration and reaffirmed their strong commitment to expanding the scale and scope of joint bilateral and multilateral air exercises,' it added. The visit of the Turkish defence minister to the Air Headquarters in Islamabad reflects the shared commitment of both nations to enhance strategic cooperation, solidify defence ties, and promote lasting institutional linkages between the Armed Forces of Pakistan and Turkey, the ISPR stated. A day earlier, the Chief of Staff of China's People's Liberation Army Air Force (PLAAF), Lt General Wang Gang, also praised the PAF leadership for its professional acumen and strategic foresight while paying tribute to the exemplary performance of the PAF during the recent conflict with India. A high-level defence delegation, led by Lt General Gang, visited Air Chief Marshal Sidhu at Air Headquarters in Islamabad. Lt General Gang praised PAF pilots for delivering a decisive and measured response under the resolute leadership of Air Chief Marshal Sidhu, describing it as a textbook example of precision, discipline, and courage in the face of unprovoked aggression.
Business Recorder
5 hours ago
- Business Recorder
Scottish police preparing for possible Trump visit to Scotland this month
LONDON: Scottish police said on Wednesday they were preparing for a possible visit to the country by U.S. President Donald Trump this month, which would mark his first visit to Britain since the U.S. election last year. Trump owns two golf courses in the country, one on the northeast coast and another south of Glasgow on the west coast. 'While official confirmation (of the visit) has not yet been made, it is important that we prepare in advance for what would be a significant policing operation,' Emma Bond, assistant chief constable of Police Scotland, said in a statement. Trump is also due to visit Britain later this year on a second official state visit. Britain has not yet set a date for that trip. The dates for Trump's visit to Scotland have also not been announced. When Trump visited the golf courses in Scotland in 2018, there were protests at the site and in some of the country's largest cities. Police Scotland said the cost of Trump's three-day visit to the country in July 2018 cost more than 3 million pounds ($4.08 million). The then-head of Scotland's police force said that trip would require more than 5,000 officers.
Business Recorder
5 hours ago
- Business Recorder
TSX rises as investors assess tariff concerns
Canada's main stock index inched up on Wednesday, buoyed by real estate shares, with investors on the lookout for trade and tariff updates. Toronto's S&P/TSX index advanced 0.1% to 26,938.86 points, after falling for two straight days. U.S. President Donald Trump on Tuesday announced steep copper tariffs and threatened to slap levies on semiconductors and pharmaceuticals, broadening the trade war that has affected markets worldwide. Trump also postponed the deadline for tariff deals to August 1. Meanwhile, domestic government data showed that Canadian companies have boosted trade with other allies, including smaller markets, in a bid to minimize economic damage from U.S. tariffs. The announcements related to trade negotiations will continue to 'cause movements in the market in the short term,' said Verecan Capital Management CEO and portfolio manager Colin White. 'The information that's going to come up this month with regards to jobs will be very instructive on what we can hope to expect over the next couple of months.' Investors will closely assess key Canadian jobs data, due on Friday, to gauge how the economy is holding up under tariff-related pressures. Technology shares rose 0.4% on Wednesday, while healthcare shares added 0.7%. Real estate stocks gained 0.5%, with H&R rising 4.7% after the Globe and Mail reported that asset manager Blackstone and U.S. equity funds were in talks to buy the company's assets. Conversely, energy shares fell 0.4%, while mining shares were flat. Copper prices dipped. Miners Ero Copper and Capstone Copper declined 6.2% and 2.5%, respectively. EQB rose 1.6% after the lender said former finance head Chadwick Westlake will return as its CEO, just months after he left to become the chief financial officer at software firm OpenText. Shares of OpenText fell 4.8%.
