Chinese markets end on a flat note

Asian shares ended mostly lower in cautious trade on Friday after U.S. President Donald Trump announced a 35 percent tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20 percent on most trading partners that haven't got letters yet.

Trump also said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer.

The dollar, gold and oil all rose in Asian trade as Trump threatened to revive his trade war.

China's Shanghai Composite index gave up early gains to end on a flat note at 3,510.18.

Hong Kong's Hang Seng index rose 0.46 percent to 24,139.57, with EV and tech stocks surging on Beijing's stimulus pledge ahead of a highly anticipated Politburo meeting.

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