Trump Accuses China Of Violating Trade Agreements, Majority Of US Shares Sluggish

JAKARTA - The majority of US stocks weakened towards the weekend. This happened after US President Donald Trump accused China of violating the initial trade deal announced earlier this month.

Citing Antara, Trump's statement made global trade fall into uncertainty again, having previously had relief from the deal in Geneva.

The S&P 500 index fell 0.01 percent or 0.48 points to 5,911.69. The Nasdaq composite index fell 0.32 percent and ended at 19,113.77.

Meanwhile, the Dow index actually strengthened 0.13 percent and closed at 42,270.07 points.

The diverse market movement follows a change in Trump's tone regarding the trade agreement with China.

Trump said on Friday that due to the tariff he imposed, China was in dire economic danger, with factories closed and civil unrest occurred.

He said he made a quick trade deal with China to save them, and after that China's economy returned to normal.

"Everyone is happy! That's the good news!! The bad news is that China, maybe not surprising to some people, has COMPLETELY VIOLATED DEAL WITH US," Trump wrote on social media.

China responded to the allegations by reiterating chip restrictions by the US, and again urging Washington to correct the wrong move.

Recently, China has repeatedly expressed concern to the US about the misuse of export control measures in the semiconductor sector and other related practices, said a spokesman for the Chinese Embassy in Washington, Liu Pengyu, as quoted by CNBC.

China once again urged the US to immediately correct its wrongful actions, stop discriminatory restrictions on China, and jointly uphold the agreement reached in high-level talks in Geneva, he said.

Trump later said he would speak with Chinese President Xi Jinping "and hopefully we can finish it."

In terms of macroeconomic data, the University of Michigan's consumer sentiment index did not change in May, remaining at 52.2 points. Initial estimates for the month were revised up from 50.8.

Meanwhile, short-term inflation expectations rose slightly to 6.6 percent in May from 6.5 percent in the previous month.

On the other hand, long-term inflation expectations fell to 4.2 percent in May from 4.4 oersen in April, marking the first decline since December.