Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.
U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S. farm exports.
"While the renewed risk appetite is seen boosting European and U.S. stocks, investors should consider how much upside is left, given that markets have been actively pricing in the possible resolution to the trade saga."In Asia, Chinese shares were the biggest gainers, with the blue-chip index up as much as 3 percent. The CSI300 index rallied last week after index provider MSCI quadrupled its weighting for mainland shares in its global benchmarks.Australian shares rose 0.
Surveys last week highlighted manufacturers' pain, particularly those exposed to China's slowdown, and added to expectations that central banks are finished tightening policy . Greece's benchmark 10-year government bond yields dropped to their lowest since 2006 on Monday after Moody's raised its rating late last week, bolstering investor optimism towards the euro zone's most indebted country.
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