Trump-Kim sum­mit boosts Asia stocks, eyes on cen­tral banks

Cebu Daily News - - WORLD -

Ma­jor mar­kets in Asia and Europe rose on Tues­day af­ter Don­ald Trump and Kim Jong Un held a his­toric sum­mit, while in­vestors look ahead to key pol­icy meet­ings at the Fed­eral Re­serve and Euro­pean Cen­tral Bank this week.

Trump said he had formed a "spe­cial bond" with the North Korean leader, who reaf­firmed his com­mit­ment to "com­plete de­nu­cle­ari­sa­tion of Korean Penin­sula" in a joint agree­ment signed by the two.

While the meet­ing was not ex­pected to see any im­me­di­ate re­sults, it has pro­vided hope for peace on the Korean penin­sula.

How­ever, in­vestors re­main con­cerned about a pos­si­ble global trade war af­ter the weekend's Group of Seven sum­mit in Canada ended with Trump with­draw­ing sup­port for a joint com­mu­nique and ac­cus­ing host Prime Min­is­ter Justin Trudeau of be­ing dis­hon­est.

That came just af­ter he had hit Canada, Mex­ico and the Euro­pean Union with steel and alu­minium tar­iffs, spark­ing threats of re­tal­i­a­tion that some fear could es­ca­late.

For most of the day eyes were on Sin­ga­pore, where Trump and Kim be­came the first sit­ting lead­ers of their coun­tries to meet.

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