China Shares Fall on EU Tariffs, US Auto Ban Concerns; Tolerance Technology Jiangsu Surges 859% in Debut
Chinese shares ended Friday's session in the red as the country faced European anti-dumping levies and new U.S. legislative threats.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 1.0% lower to 3,996.16. The Shenzhen Component Index plunged 2.3% to 15,046.67.The European Commission has slapped anti-dumping duties ranging from 4.3% to 45.3% on passenger car and light truck tires originating from China. A separate anti-subsidy probe covering the same product categories remains ongoing, with final findings expected in December.Meanwhile, the U.S. Senate Commerce Committee has set a July 15 hearing to deliberate the bipartisan Connected Vehicle Security Act of 2026, legislation that would effectively bar Chinese automakers from selling passenger vehicles in the American market by prohibiting connected vehicle and software sales from adversarial countries.In company news, Tolerance Technology Jiangsu (SHE:301583) shares closed at 216.70 yuan apiece on their first day of trading on the Shenzhen bourse. This marked an 859% jump compared with the semiconductor equipment manufacturer's initial public offering price of 22.60 yuan per share.
