Hong Kong
Asian investors gave a cool welcome Monday to the much-hyped China-US trade agreement, with observers saying they were still waiting for details, while the pound built on gains after last week’s general election win for Prime Minister Boris Johnson.
The world’s two economic superpowers on Friday said they had finally reached a partial deal that will cool down their long-running tariffs row, cancelling the imposition of fresh measures and winding back some others.
Anticipation that a pact was near helped fire global markets towards the end of last week, but selling began soon after the announcement was made with Wall Street finishing flat. Under the agreement Donald Trump agreed to cancel tariffs due on Sunday and lower levies already in place, while China committed to purchases of US manufactured merchandise, energy goods and farm exports, with the text due to be signed early next month.—AFP
