02-Jul-2025      16:30

China's Shanghai composite index ends marginally lower

Asian stocks ended mostly lower on Wednesday as U.S. President Donald Trump hinted at higher tariffs on certain countries after the July 9 deadline and Senate Republicans narrowly advanced his tax and spending bill, which risks $3tn deficit before Trump's term ends.

The U.S. dollar held near 3-1/2-year lows in Asian trade and gold edged down after two days of gains as investors awaited U.S. payroll data and assessed Federal Reserve Chair Jerome Powell's cautious stance on rate cuts. Oil prices held steady ahead of key OPEC+ decision on August output policy.

China's Shanghai Composite finished marginally lower at 3,454.79 as tech shares fell amid ongoing global trade tensions. Hong Kong's Hang Seng index rose 0.62 percent to 24,221.41 as traders returned from a holiday.

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