LONDON: United States-China trade talks in London held markets’ attention on Monday (Jun 9), with Asian stocks rising, Wall Street mixed and Europe dipping.
The London negotiations, following on from a first round in Geneva last month, aim to quell renewed tariff tensions between Washington and Beijing.
New York’s Dow and S&P 500 indices were lower, while the tech-heavy Nasdaq rose slightly in early trading.
Asian shares closed up on hopes of a deal, and catching up with Wall Street from Friday, when US jobs data suggested the American economy was doing well, for now.
The dollar, however, was largely unmoved, with persistent fears of higher US inflation in the pipeline from Trump’s generalised tariffs weighing on it.
London, Paris and Frankfurt indices were all lower.
While the US economy was showing resilience, official data on Monday showed China’s exports to the US last month grew at a slower pace than expected, even as they picked up to the European Union and Asia.
The US-China talks took place following a call between US President Donald Trump and Chinese President Xi Jinping last Thursday. They sought a de-escalation after each had accused the other of violating the terms of a tariffs reprieve struck in Geneva in mid-May.
Source: CNA
