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JP Morgan predicts US-China truce will keep investors optimistic for a couple months

Author:
Valentin Lazarov
Investors

Investors have cheered since the U.S. and China have agreed at least temporarily not to escalate trade tensions — and markets’ optimism will last for a couple months, an executive from J.P. Morgan Chase predicted on Monday.

U.S. President Donald Trump and Chinese President Xi Jinping met over the weekend at the G-20 summit in Japan, where they agreed to hold off on further tariffs against each other’s products. That news sent most stock markets in the Asia Pacific region higher on Monday, with mainland Chinese shares leading the gains.

“I think for now, markets have taken on a more optimistic and upbeat tone at least since the weekend. And I think this optimistic tone will continue for the next couple months,” Jing Ulrich, managing director and vice chair of global banking and Asia Pacific at J.P. Morgan Chase, told CNBC’s Geoff Cutmore and Arjun Kharpal.

She explained that developments over the weekend have temporarily removed one uncertainty facing the global economy. That will allow investors to focus on other factors affecting the performance of stocks, such as company earnings and reforms in the Chinese economy, she said at the World Economic Forum in Dalian, China.

Source:CNBC

 

 

International Financial Markets Department

Euro-Finance Ltd.

forex@eurofinance.bg

www.eurofinance.bg 

*This material should not be considered as a recommendation for buying/selling securities.