Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Rare Earth Stocks Rise on Back of Trade War Concerns

By Li Liuqian and David Kirton / May 30, 2019 01:16 PM / Business & Tech

Photo: IC Photo

Photo: IC Photo

Volatility rocked the stocks of rare earth companies in the wake of speculation overseas that China might restrict exports of materials vital to several high-end U.S. products, with shares in 30 stocks rising a combined average of 5.6% during Wednesday trading.

Fluctuations have become the norm for the 30 Chinese rare earth companies that make up the rare earth index, with stocks prices rising by 30% on average since May 7, according to data provider East Money.

China is the world’s biggest producer of rare earths, which are vital for many high-end products such as phone components, electric car batteries and cutting-edge military hardware. The U.S. is a major consumer of China’s supply, fueling speculation that Beijing might respond to escalating trade tensions by turning off the tap.

Check out later today for the full story.

Related: Hong Kong-Listed Rare Earth Stock Surges 120% After Xi Visit

Share this article
Open WeChat and scan the QR code