China Stocks sink on fresh trade war worry

The Mainland China equity market closed down after erasing early gains on Wednesday, 21 March 2018, as risk off selling intensified on concerns over a potential trade war between the world's largest and second-largest economies after US President Donald Trump has imposed tariffs on about US$50 billion in Chinese imports to retaliate against the alleged theft of American intellectual property on Thursday, and Beijing has said it will defend itself. The benchmark Shanghai Composite Index lost 0.53%, or 17.47 points, to 3,263.48 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, fell 0.48%, or 9.01 points, to 1,849.60.

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