China Returns From Holiday to a Trade War: Evening Briefing Asia

For Chinese investors, it wasn’t quite an auspicious start to the year of the snake. Initially it appeared that the mainland market may join the rest of Asia in rallying upon its return from the holidays, taking tit-for-tat tariff hikes between the US and China in stride. But the shares soon sank after the US Postal Service said it’s halting all inbound packages from China and Hong Kong — a move that highlighted the risks of an escalating trade war. The CSI 300 and Shanghai Composite both fell about 0.6 % and investors sought a safe haven in gold, pushing the bullion to an all-time peak. The move by ...