Donald Trump, the U.S. president has recent boosted the stock markets all around the globe by announcing a delay for major hike over tariffs for Chinese goods. This will allow the Trump government to reach the most awaited trade agreement with Beijing.
On Sunday, Trump said over Twitter that the trade negotiations with China have undergone substantial progress. Xinhua, the State News Agency for China mentioned that Chinese delegation reported a substantial progress underlining specific issues. Kit Juckes, the Currency Strategist for Societe Generale said that this postponement of trade negotiations wasn’t much of a surprise to them but this was what the market wanted to hear for quite long time.
Trump commented that he is supposed to meet the China’s President Xi Jinping for concluding an agreement, given the talks advance further. Additionally, the stock indexes for Hong Kong and Tokyo advanced by 0.5 percent while the European markets unlatched with gains similar to the markets mentioned previously. The stock futures for the U.S. market were comparatively higher.
However, it was mainland China that performed exceptionally with the Shanghai Composite reaching the 5.6 percent mark and thus entering the bull market. It was admittedly the biggest percentage gain when calculated daily post July 2015.
