Asia market update: US-China digging in for the long haul?

When” Xi “speaks, the market listens, at least in China it does as shares in Hong Kong, and Shanghai has been moving convincingly higher after Chinese President Xi Jinping vowed “unwavering” support for the country’s private sector. But the big noise in local markets is the much anticipated personal tax cuts are a bit more free-handed than had been expected. And what investor doesn’t like the sound tax cuts!!

But with Trump suggesting he wants China to ” Feel more pain” and that trade war with China is at ” the beginning of the beginning” according to Whitehouse insiders. It certainly appears that both sides are digging in for the long haul and would certainly bring into question the planned November meeting if it even remains scheduled that is.

Newswires were reporting “Prime Minister Theresa May will tell parliament on Monday that 95% of Britain’s divorce deal has now been settled but will repeat her opposition to the European Union’s proposal for the land border with Northern Ireland. So, the Pound remains stuck in the mud as May yet again rejects another EU Ireland proposal.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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