Equities rally as investors take heart from signs of progress in China-US trade talks and upbeat data
MSCI’s broadest index of Asia-Pacific shares outside Japan rises 0.5% on upbeat US and China trade talksAn electronic board displaying the Tokyo stock index at a securities office in Tokyo, Japan. Picture: EPA/KIMIMASA MAYAMA
The index has risen nearly 3% since Thursday following reports of progress in trade talks between the US and China, as well as reassuring factory activity data from China and the U.S. “There’s been an awful lot of bad news priced in. So perhaps the absence of new negatives are enough to allow for a small sense of positivity to creep in,” he said.
“After such a strong rise it is no surprise that the risk rally stalled a little,” said Greg McKenna, strategist at McKenna Macro, in a morning note to clients.
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