China stocks galloped by roughly 1% into the Year of the Horse.

China stocks galloped by roughly 1% into the Year of the Horse on Tuesday while the yuan rose to a near three-year high, as ‌traders returning from a nine-day holiday bet a U.S. tariffs reset will benefit the world's second-biggest economy. Hong Kong stocks, however, gave up much of Monday's 2.5% gains, after Wall Street ‌skidded overnight. While the U.S. Supreme Court's annulment of President Donald Trump's "reciprocal" tariffs and Trump's subsequent move to impose a temporary 15% global tariff have thrown world trade into a new bout of confusion, investors say the latest developments will likely benefit China. "I ‌see it as positive to China," said Wang Zhuo, partner of Shanghai Zhuozhu Investment Management. It could lead to lower ‌tax on Chinese goods, and also "represents a check on Trump's tariff abuse," he said, adding China's onshore stocks are less vulnerable to U.S. market volatility. China's blue-chip CSI300 Index closed up 1% while the Shanghai Composite Index advanced 0.9%. Hong Kong's Hang Seng Index fell nearly 2%. Onshore yuan hit ⁠6.8888 per dollar in afternoon trading, the strongest ⁠level since May 4, 2023. China's Lunar New Year holiday began on February 15, to celebrate the start of the Year of the Horse. ⁠Markets resumed trading on Tuesday. LOWER TARIFFS ON CHINA Chinese investors bought into export-related stocks as analysts expect the U.S. tariffs rejig will lead to lower rates for China, and could weaken Trump's hand in trade talks with Beijing. The CSI Consumer Electronics Index jumped nearly ⁠2% while an index tracking machinery stocks gained 1.8%. "Generally speaking, tariff on China will come down," Deng Lijun, strategist at Huajin Securities said in a ⁠roadshow. Appetite for risk has also been improving amid easing Sino-U.S. tensions and ahead of China's annual parliamentary meeting in early March, he said. Goldman Sachs predicts a net reduction of around 5 percentage points in U.S. tariffs on Chinese goods ⁠as a result of the tariff reset. Analysts at Morgan Stanley and JPMorgan expect tariff rates on China to decline to 24% ⁠and 27%, respectively, from ⁠32% earlier. In the currency market, the onshore yuan extended its rally amid signs of elevated forex inflows following a record current account surplus in the fourth quarter. Analysts expect lower U.S. tariffs ‌to bolster already-strong Chinese ‌exports, underpinning the Chinese currency. (This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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