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World stocks scale record peak on U.S.-China trade deal


Added 01-15-20 10:03:01pm EST - “World stocks inched to a record high on Thursday after the United States and Chi...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “World stocks scale record peak on U.S.-China trade deal”. Below is an excerpt from the article.

TOKYO (Reuters) - World stocks inched to a record high on Thursday after the United States and China signed a deal to defuse their 18-month trade war, which has weighed on global economic growth and hampered investments.

MSCI’s broadest index of world stocks .MIWD00000PUS firmed 0.04% in early trade after closing at record level on Wednesday while its index on Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.10%.

U.S. President Donald Trump and Chinese Vice Premier Liu He on Wednesday signed a deal that will roll back some tariffs and see China boost purchases of U.S. goods and services by $200 billion over two years.

The deal does not address structural economic issues that led to the trade conflict, and does not fully eliminate the tariffs while the $200 billion purchase targets look daunting to achieve.

“Whether somebody looks at this as big progress or little progress, it is something tangible and so the arrow is pointing in a direction that the market is comfortable with,” said Chuck Carlson, chief executive officer of Horizon Investment Services at Hammond, Indiana in the United States.

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