Chinese e-commerce stocks drop after the US Postal Service suspends inbound parcels from China and Hong Kong. Source: Bloomberg
Posted: Feb 05, 2025
- USPS has suspended incoming international packages from China and Hong Kong temporarily
- Impact on e-commerce players like AMZN, EBAY etc.
- Source: https://www.bloomberg.com/news/live-blog/2025-02-04/china-s-markets-reopen-after-holiday?utm_medium=social&utm_source=telegram&utm_content=business
- Chinese stocks dropped after initially rising, with Hong Kong's market also falling
- China maintained support for the yuan with a stronger-than-expected fixing
- Onshore Chinese markets resumed trading after a six-day holiday
- US imposed 10% tariffs on China, leading to a response from China
- Yuan under pressure due to rate differentials and outflows
- US Postal Service suspended inbound parcels from China and Hong Kong
- Chinese e-commerce shares extended their drop
- Bond market quiet
- China's iron ore futures and copper prices lower
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