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Mainland Stocks Open Down Then Creep Back Up in Morning Trade

By Yang Ge / May 08, 2019 10:32 AM / Finance

China stocks opened down around 2% following a U.S. sell-off over concerns about heightening tensions between the world's two largest economies, but pared those losses in early trade.

The Shanghai Composite Index opened down 1.8%, but rebounded somewhat and was down about 1% about 45 minutes into the morning session. Similarly, the Shenzhen index opened down 2.1%, but recouped some of that ground and was down about 0.6% over the same period.

Both the Dow Jones and Nasdaq lost nearly 2% yesterday over concerns about growing U.S.-China trade frictions. U.S. President Donald Trump has threatened to impose new tariffs on Chinese imports on Friday, though China has confirmed that Vice Premier Liu He will head to the U.S. this week for a new round of trade talks. 

The growing tensions sparked a sell-off for Chinese stocks on Monday, with mainland markets posting their worst declines in more than three years. 

Related: Vice Premier Liu He to Head to U.S. for Trade Talks

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