Foreign media attention: trade war easing to boost global stock market surge
Reference News Network December 18th Report Foreign media said that the Sino US trade agreement eased the long-standing trade war between the world's two largest economies and soothed nervousness among investors. Global stock markets hit a new high.
According to the 16 financial daily of the Financial Times website in December, the Ming world index, which includes stock market in developed and emerging markets, has reached a record high. The index has risen by 0.68%.
The S & P 500 index and the European Storck 600 index also hit a record high. Analysts hinted that the world economy has hit the "tariff peak" in the Sino US trade dispute.
As 2020 approaches, Sino US agreement on the first stage economic and trade agreement is expected to ease global economic pressure.
The report quoted Mark Havel, chief investment officer of UBS global Fortune Management Inc as saying: "we may have reached the" tariff peak "point. This Agreement may be the beginning of a series of phased recovery measures, which may further release the stock market with the promotion of business confidence and investment recovery.
According to The Associated Press reported on December 16th, the Wall Street stock market closed up in December 16th, continuing the gains gained last week and pushing the major stock indexes to a record high.
Reported that the S & P 500 index and the NASDAQ index for the third consecutive trading day hit a record high. The Dow Jones Industrial Average also surpassed its record high at the end of November.
Strong economic reports from China helped boost the stock market. Manufacturing activity and retail sales growth in the world's second largest economies exceeded analysts' expectations last month.
These economic reports give investors more reasons to be encouraged. After the long-awaited "first stage" trade agreement between China and the United States, confidence in the market increased in the latter part of last week. The trade agreement eliminates some uncertainties that plagued businesses and investors.
Quincy Crosby, chief marketing strategist of Baode letter Financial Group, said: "the significance of this agreement is that we will not see the acceleration of the trade war. At the moment, the market is concerned about the opportunities we have since 2020. Actually we see that global economic growth is beginning to show, although this growth is not near. "
The S & P 500 index rose 22.65 points to 3191.45 points, or 0.7%. This benchmark index has risen for four consecutive days. The Dow Jones industrial average rose 100.51 points to 28235.89 points, or 0.4%. The Nasdaq composite index climbed 79.35 points to 8814.23 points, or 0.9%.
European stock markets closed up sharply. Asian markets are mixed.
The report said that the buying wave in December 16th was extensive, and about 85% of the S & P 500 index rose. The optimism surrounding the Sino US trade agreement brought investors into a buying state, which ended last week's third consecutive week of gains. In less than three weeks in 2019, the index rose 27.3% this year.
Traders welcomed the news that China's industrial added value increased by 6.2% over the same period in November. The latest rise in the Wall Street stock market followed the rebound in global stock markets. At the same time, China's retail sales increased by 8% over the same month, a 5 month high.
"As certain trade uncertainties were eliminated last week, investors should begin to feel more confident that China will be able to maintain 6% or higher economic growth in 2020," Edward Moya, an economist at the Austrian anda company, quoted the economist.
In addition, according to Reuters's 16 daily report December, the first stage trade agreement between the United States and China helped to prolong the rebound caused by the victory of the conservative party election in the UK, and the European stock market reached a record high in December 16th, rising for the fourth consecutive day.
The report said that London's FTSE 100 index rose 2.3%, leading the main index in Europe, as investors saw the victory of British Prime Minister Johnson's last week's parliamentary election as a signal of re buying in a market that had been in a poor market because of concerns about Britain's departure from Europe.
The rise in London's stock market, coupled with optimism about the US China trade agreement, pushed the European Storck 600 index to a record high. The index rose 1.4% to 417.75, closing a record high.