The Shanghai Composite Index, China’s stock market opened lower this morning. Investors will keep an eye on talks between US President Joe Biden to hold talks with Chinese President Xi Jinping on July 28 amid new tensions over the Taiwan situation.
The Shanghai Composite Index opened at 3,271.78, down 5.66, or -0.17%.
Bloomberg News reported, citing sources as saying. The first talks between the two presidents since March It comes at a time when U.S.-China relations are particularly strained. U.S. House of Representatives Speaker Nancy Pelosi and security officials did not deny Pelosi’s plans to visit Taiwan in early August.
However, the source stated that No decision has yet been made on Pelosi’s visit to Taiwan for her Asia trip next month. She will also be the first US House Speaker since Mr Newt. Gingrich visiting Taiwan
financial newspaper The Times reported that Chinese authorities have pledged to take measures that “Severe and decisive” to retaliate and warn of “serious impact” on bilateral relations If Pelosi chooses to visit Taiwan, China has also personally warned Biden’s administration of the possibility of military retaliation.