Global Stocks Rally Over Improving Market Sentiment
Arslan Butt • 1 min read
An improvement in market sentiment seems imminent with Asian stock markets soaring towards near nine-month highs. This surge came on the back of US Treasury Secretary Steve Mnuchin’s statements expressing optimism over US-China trade talks being finalized soon. In addition, better than expected Chinese export and bank loan data also helped allay concerns that the global economic slowdown and the market sentiment could start looking up.
Global equity markets have also seen a rally over the Fed putting on hold its plans to tighten rates further and UK being granted additional time to sort out Brexit issues. As the European session gets underway, DAX and FTSE have registered a 0.2% rise, at the time of writing.
According to a Reuters report, Global Economist at Bank of America Merrill Lynch, Ethan Harris, has also expressed positive remarks in the hopes of a “market-friendly US-China deal”. He also stated that the bank remains hopeful that market and political factors will prevent further flaring up of issues related to trade between the two countries.