China

World markets are approaching record highs by the end of the year

Summary

World markets are approaching record highs by the end of the year The dollar ended 2019 on a minor note after stock market rallies fueled by hopes of an upcoming U.S.-China trade in recent weeks. The MSCI is on track […]

World markets are approaching record highs by the end of the year

The dollar ended 2019 on a minor note after stock market rallies fueled by hopes of an upcoming U.S.-China trade in recent weeks.

The MSCI is on track to grow 24% in 2019, the best in nearly a decade.

European equity markets feel differently. British FTSE sank 0.4%, while France’s CAC practically unchanged.

World markets are approaching record highs by the end of the year

In Asia, trading results also diverged.. Mainland China reserves rose 0.4% after manufacturing activity in the world’s second largest economy expanded for the second straight month in December.

The data added optimism that trade tensions between Beijing and Washington are easing after White House trade advisor Peter Navarro said the first phase of the deal could be signed next week..

«It is worth remembering, however, that the first phase of the trade deal (which has not yet been officially signed) has only recently acquired a certain prospect and it may still take some time to revive sentiment and investment, which will be reflected in the economic data.», – experts say.  

China’s profit surged earlier in the week. This was driven by a combination of strong retail sales growth and hopes that a new benchmark for floating rate loans could lower borrowing costs..

Meanwhile, Hong Kong shares fell 0.5% as protesters prepared for New Years Eve democracy rallies.

US stock futures showed some optimism ahead of the final session of the year. S&P 500 e-minis is up 0.1%.

In foreign exchange markets, the dollar index, which tracks the US currency against a basket of six major competitors, fell 0.2%, posting negative gains for the fourth straight session.