Chinese shares edged lower on Monday while U.S. index futures rose, as investors struggled to interpret the latest escalation in trade rivalry between the world’s two largest economies. We do observe significant buy-in from Northern bound channel near market close. Agriculture and Oil sectors were the best performers, while Electronic Component and Telecom sectors led the falls. Combined turnover for both markets is CNY 345.1billion, down 12.8% dod.
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*The Trump administration has issued a partial — and qualified — denial to the revelation that it is discussing imposing limits on U.S. investments in Chinese companies and financial markets as China vowed to continue opening its markets to foreign investment. (Bloomberg)
*Chinese smartphone maker Huawei has filed a lawsuit against Shenzhen Transsion Holdings, a rival known for its dominance in Africa, as the latter is listed on Shanghai’s new Nasdaq-style high-tech board, Caixin has learned. (Caixin)
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