Published 10:43 IST, July 17th 2024
China stocks subdued as investors await news from key leadership meeting
Market participants are also worried that China will figure heavily in Donald Trump's foreign policy.
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China stocks struggled for momentum on Wednesday, with major indexes trading in narrow ranges, as investors awaited policy news from a key leadership gathering in Beijing that is expected to end on Thursday.
Sentiment also remained low after data on Monday showed the world's second-largest economy grew much slower than expected in the second quarter as a protracted property downturn and worries over jobs knocked the wind out of a fragile recovery.
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Market participants are also worried that China will figure heavily in Donald Trump's foreign policy thinking if he wins the US presidential race.
His choice of JD Vance as his vice presidential running mate provides more evidence of what would be a tough US stance on China in a second Trump administration, analysts said.
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Vance, who shortly after his selection on Monday called China the "biggest threat" facing the United States, shares the Republican candidate's belief that China's rise as the world's factory ruined America's manufacturing sector.
With business and consumer sentiment near record lows, the Communist Party plenum will seek to inject confidence in the world's second largest economy.
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However, conflicting goals such as boosting growth while cutting debt may mean little progress toward implementing change.
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10:43 IST, July 17th 2024