US-China trade talks and economic data in focus

Business


Market focus is largely attuned to global trade developments, with a delegation of U.S. officials set to travel to China for the next round of negotiations this week.

The latest set of trade talks will take place in Beijing from Monday. It comes after discussions in Washington last week concluded without a deal.

Both sides are trying to secure a comprehensive trade agreement ahead of a March 1 deadline when U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Escalating tensions between the world’s two largest economies have cost both countries billions of dollars and roiled global financial markets.

In Asia, Chinese shares whipsawed on Monday after they resumed trading following a week-long Lunar New Year holiday. The blue-chip index rose 0.4 percent, though trading volumes were still expected to be light with Japan on a public holiday.

MSCI’s broadest-index of Asia-Pacific shares, excluding Japan, was around 0.1 percent lower.

Back in Europe, investors are likely to monitor a preliminary quarter-on-quarter estimate of U.K. GDP growth rate data at around 9:30 a.m. London time. The U.K. is also expected to release annualized GDP data for December as well as the latest industrial production figures and trade balance data.



Source link

Products You May Like

Articles You May Like

Canadian weed giant Canopy Growth strikes deal to buy Acreage
PepsiCo posts first-quarter earnings beat, shares rise
Can you save money and the planet by owning an electric car?
Pier 1 Imports q4 earnings
Top executives at MedMen quit amid claims of financial duress

Leave a Reply

Your email address will not be published. Required fields are marked *