Tag: US-China trade talks
At 9.05am, the ringgit stood at 4.1930 against the greenback from yesterday’s close of 4.1910.
Beijing offered tariff breaks on US agricultural products to some importers in another goodwill gesture to the US during the short-lived trade truce.
It comes amid a global trade dispute intensified by recent US tariffs slapped onto Chinese imports.
The licensing decisions would give much-needed clarity to American companies that do business with Huawei.
It is not good news as Bursa Malaysia's index opened 6.03 points weaker at 1,626.77 as trade talks between the United States and China continue to add on uncertainty to the global economy.
'Investors will remain bearish on the yuan, as they reprice in trade-war risks because the new developments are a reversal of previous positive progress.'
US Treasury Secretary is trying to finalise a deal that President Donald Trump has demanded to repair what he calls an unfair and unbalanced relationship.
The benchmark S&P is now just about 4% away from its record closing high in September.
Donald Trump is hoping for success after the Hanoi summit ended in failure and is thus, turning his attention to US stock market performance.
Sources say Chinese officials want US levies on Chinese goods removed to finalise any deal.
Plans for a US-China summit in mid-March are made complicated by Xi Jinping's tight schedule.
China wants to ship chicken-made products to the US in return for reopening its market for American poultry.
US sanctions against Opec members Iran and Venezuela have also contributed to the gains.
Trading turnover totalled 1.07 trillion yuan (US$160 billion), exceeding Monday's 1.04 trillion yuan - the highest level in more than 3 years.
High-level US and Chinese negotiators met in Washington through the weekend, working toward a deal that would end a tit-for-tat tariff battle that began in mid-2018.
Oil has rallied about 26% this year as production curbs by Opec and its allies eased concerns over a supply glut.
Gold prices will be firmly supported as economic uncertainties and geopolitical risks increase, say analysts.
The 7-month-old trade war has rattled global markets and prompted stark warnings about the risks to the world economy.
The dollar index against a basket of six major currencies is set to decline about 0.3% this week, which could be its biggest weekly fall in a month.
The 2 sides are starting to sketch out an agreement on structural issues, drafting language for six memorandums of understanding on proposed Chinese reforms.
Opec+'s production cuts have successfully removed oversupply and driven up oil prices.
The MoUs cover areas including agriculture, non-tariff barriers, services, technology transfer and intellectual property.
Tokyo shares open higher after Wall Street stocks scrape out narrow gains on strong Walmart earnings and continued optimism over the trade talks.
Pledge of yuan stability has been discussed in US-China talks and both sides have agreed it will be in the final deal.
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