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Chinese Share Rise, Led by Auto Stocks -- Market Talk

Dow Jones01-20

0806 GMT - Chinese shares ended higher amid some tentative hopes that tensions with the U.S. may not escalate as much as feared ahead of Trump's inauguration. A phone call between Xi and Trump, plus a promise from the U.S. president elect to save Chinese-owned app TikTok from a U.S. ban have soothed some market anxiety, though uncertainty remains. The Shanghai Composite Index edged up 0.1% to 3244.38, the Shenzhen Composite Index added 1.0% and the ChiNext Price Index gained 1.8%. China's central bank earlier held loan prime rates steady, as widely expected. Auto-related firms led the gains. CATL rose 5.6% and BYD was 2.8% higher. Decliners include energy stocks, such as PetroChina, which fell 2.9%, and China Petroleum & Chemical, which dropped 0.8%. (tracy.qu@wsj.com)

 

(END) Dow Jones Newswires

January 20, 2025 03:06 ET (08:06 GMT)

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