SHANGHAI, April 10. /TASS/. The indices of the Shanghai and Shenzhen stock exchanges surged by 1.16% and 2.25%, respectively, during the trading session, following another escalation in the tariff dispute between China and the US. The Shanghai Composite reached 3,223.64 points, while the Shenzhen Component climbed to 9,754.64, according to market data.
The CSI 300 Index, which tracks the performance of the largest companies on both exchanges, rose by 1.31% to 3,735.12 points. The Beijing Stock Exchange Index, BSE 50, which targets innovative small and medium-sized enterprises, increased by 4.84% to 1,265.35 points.
On April 9, Li Qiang, Premier of the State Council of the People's Republic of China, met with economists and business leaders in Beijing, where he stated that external shocks had put significant pressure on China’s economy, preparing it for a phase of uncertainty.
Earlier, US President Donald Trump announced a hike in tariffs on Chinese products to 125%. In response, China’s government said it would impose additional tariffs on US imports, raising them to 84%, effective April 10.