Markets rise amid mixed signals on trade war
STI climbs for a second session to close at 3,111.08; turnover on the bourse stands at 891.4 million shares worth S$893.1 million
Add BT as a preferred sourceAMID A DAY of mixed messages on the trade war front, markets chose to focus on Thursday's positive news items to continue an upward trend from the day before.
The US scored a point as China resumed buying American soybeans, a first step in holding up agreements made in the Dec 1 meeting between US President Donald Trump and Chinese President Xi Jinping. According to the US Soybean Export Council, Chinese importers purchased 1.5 million to two million metric tonnes in the nation's first significant purchase of US soybeans since July.
The Wall Street Journal also reported that China is revising its Made in China 2025 industrial policy, potentially delaying some targets in its plan to dominate high-end technologies and providing greater access for foreign companies. This could help ease tensions with the US, which has called for concrete timelines and actions from China to balance trade and open its markets to foreign companies.
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