US-China trade reprieve seen lifting markets
AS investors pivot to the third quarter of 2019 this week, trading is likely to take on a risk-friendly and upbeat note brought about by news of a trade war truce, albeit temporary, following the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping in Osaka over the weekend.
At the sidelines of the G-20 summit on Saturday, the leaders agreed to resume trade talks. US companies were given the go-ahead to resume business with Huawei Technologies, reversing a US Commerce Department ban in May and Washington has also decided against implementing tariffs on a further US$300 billion worth of Chinese imports.
Vanguard Markets managing partner Stephen Innes said: "The base case scenario was met at G-20 and while we are no worse for wear, let's see what the G-20 hangover brings."
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