China us economic and trade relations ease global market gains.Xinhua news agency, Dec. 4 (yan lei)On Dec. 4, the economic information daily published a report titled "china-u.s. economic relations ease and global markets rise."The article said major stock indexes in the asia-pacific and European regions rose on Wednesday, boosted by the easing of economic and trade relations between China and the United States.
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MSCI's Asia Pacific index rose 1.8 per cent on Wednesday.The index, which excludes Japan, rose 1.3%, its highest level in six weeks.
European markets also opened sharply higher on Wednesday, with the pan-european stoxx 600 index up 1.9 percent, its biggest gain in eight months.The ftse 100 in London rose 1.5 percent, Germany's DAX index rose 2.5 percent, and France's cac-40 rose 2.2 percent, adding to a strong showing in asia-pacific markets.Major U.S. stock market indexes also showed signs of opening sharply higher, rising nearly 2 percent.
On the evening of December 1, local time, the heads of state of China and the United States discussed china-us economic and trade issues and reached consensus in Buenos Aires, Argentina.The two heads of state spoke highly of the recent positive and effective consultations between the economic and trade teams of the two sides.The two sides agreed that a healthy and stable china-us economic and trade relationship serves the common interests of the two countries and the world at large.The two sides decided to stop raising tariffs and other trade restrictions, including not raising existing tariffs on each other and not imposing new tariffs on other goods.
Equities and emerging markets are expected to benefit from a rise in risk appetite as a result of the news, FXTM FXTM global head of currency strategy and market research arkhamand said in a research note.The msci index of emerging market currencies also rose to a four-month high, rising as much as 0.4 per cent on the day.
Hong Kong's hang seng index closed up 2.55 per cent regionally at 27,182.04 on the positive news.The nikkei 225 index gained 1.00% to 22,574.76.South Korea's KOSPI index rose 1.67 percent to 2,131.93.The Shanghai composite index rose 2.57 per cent to 2,654.80.
Market participants said that the asia-pacific market may have a period of oversold rebound."In the last few weeks, algorithmic trading and CTA strategy momentum indicators have been pointing to short positions, and as risk sentiment improves, there will be a big rally in Asia Pacific markets in the near term once short-covering takes place," said Peter naemi, a fund manager at amp capital, which manages $145bn.
"Our view is that the dollar is 10 to 15 per cent overvalued, us Treasury yields will peak and if long positions are taken, that will be a major driver of the emerging market recovery."In addition, the us' double deficit 'of 6 per cent of GDP, the gradual peaking of the us business cycle, the divergence between nominal yields and inflation expectations and the continued outperformance of cyclical sectors against defensive sectors suggest tradable opportunities for emerging markets.""Said John Robertson, global head of strategy at standard chartered.But he cautioned that while emerging market valuations were attractive, the prospect of a global liquidity squeeze in 2019 remained unchanged, with the withdrawal of this liquidity contributing to the dollar's gain of more than 10 per cent this year.(http://www.newgloryumbrella.com/)