Chinese stocks gained marginally on Wednesday as the country awaits the impact of new sweeping retaliatory tariffs, expected to be imposed by US President Donald Trump against Washington's global trading partners.
The Shanghai Composite Index, the main gauge of Chinese stocks, inched up 0.051% or by 1.69 points to 3,350.13. The Shenzhen Component Index fell 0.090% or by 9.46 points to 10,513.12.
Trump's new tariffs are scheduled to take effect immediately after he announces them, Reuters reported Wednesday, citing White House Spokesperson Karoline Leavitt.
The tariffs are seen to equalize tariff rates with those charged by other countries and counter non-tariff barriers that could be a bane to US exports, the report said.
Meanwhile, global banks forecast China will deliver its monetary stimulus as soon as April, while economists polled by Bloomberg expect the People's Bank of China to slash its reserve requirement ratio in the second quarter, Bloomberg News reported.
Elsewhere, Standard Chartered (HKG:2888) revised its 2025 economic growth forecast to China to 4.8% from 4.5% following the boom seen in the purchasing managers' index readings, Reuters reported Wednesday.
Real gross domestic product growth may have softened to 5.2% in the first quarter from 5.4% in the previous quarter, the bank said.
China's finance ministry also started issuing its first-ever green sovereign bond to raise as much as 6 billion yuan in an offering to be listed in London, Bloomberg News reported, citing a person familiar with the matter. The bonds have yields of 2.3% for its three-year bonds and 2.35% for its five-year bonds.
Debutant Shenzhen SOFARSOLAR (SHE:301658) closed 244% higher on its first trading day after opening at 40 yuan apiece. The photovoltaic and energy storage company priced its offering of 41,237,114 shares at 11.80 yuan apiece.
Changan Automobile (SHE:000625) and Dongfeng Automobile (SHA:600006) both closed 1% lower after both Changan and Dongfeng Automobile parent Dongfeng Motor (HKG:0489) advanced discussions for their possible merger.
AECC Aviation Power (SHA:600893) plunged 10% during the closing bell after posting a 39% drop in pfoit to 860.3 million yuan.
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