Markets Ride Positive Wave On Hopes Of Trade Resolution

Global stocks mostly rose Wednesday as new tit-for-tat tariffs by China and the United States were seen as lighter than feared, while there were hopes the two sides will avert a damaging trade war.

London, (UrduPoint / Pakistan Point News - 19th Sep, 2018 ) :Global stocks mostly rose Wednesday as new tit-for-tat tariffs by China and the United States were seen as lighter than feared, while there were hopes the two sides will avert a damaging trade war.

US President Donald Trump said this week that he would press ahead with 10 percent levies on another $200 billion of imports, prompting Beijing to target $60 billion of US goods with five to 10 percent taxes.

The developments were a clear escalation in the months-long standoff between the world's top two economies.

However, analysts said the retaliation measures were not as painful as they could have been and sent European equities higher out of the gates.