China stocks down as trade tensions with U.S. escalate

REUTERS - China's stocks were down around midday today (June 20) a day after the spectre of a U.S.- China trade war rattled global markets. Hong Kong's Hang Seng index opened flat at 29,478.46 today morning. As of 0317 GMT (Local time), the Shanghai Composite Index was down 1.06%, a day after falling 3.8%. Today's fall came despite 30 listed firms announcing share purchase plans by major shareholders, and state media expressing confidence in the country's stock markets. Washington threatened on Monday (June 18) to impose a 10% tariff on $200 billion of Chinese goods after Beijing decided to raise tariffs on $50 billion in U.S. goods, in response to similar tariffs on Chinese goods announced Friday (June 15).