Stocks slide on tariff risk and trade data

China's markets fell on Wednesday again after a brief rebound. 

The benchmark Shanghai Composite Index lost 1.12 percent to end at 2,893.76 points. The Shenzhen Component Index shed 0.96 percent to close at 9,002.53, while the blue-chip CSI300 index lost 1.4 percent to end at 3,667.46 points.

Turnover on the two major bourses was 488.8 billion yuan (US$72.14billion). The volume in the previous trading session was 538 billion yuan.

Agriculture, forestry and gold were among the biggest gainers. Harbin Hi-tech (Group) Co Ltd and Jingliang Group climbed by the daily limit of 10 percent.

Banking and shares of animal husbandry and fishery industries led the drop.

China’s exports unexpectedly shrank in April, although imports surprised with their first increase in five months, painting a mixed picture of the economy.

The threat of higher tariffs on exports to the US also dampened sentiment despite the upcoming Sino-US trade talks.