Global stocks up as trade, Syria uncertainties ease
seoul — Global stock markets were mostly higher on Friday after the US said it was exploring the possibility of returning to trade talks with 11 Pacific countries. Sentiment also improved as the US said it is consulting allies before making a final decision on possible military strikes against Syria.
France’s CAC 40 rose 0.3 per cent to 5,327 and Germany’s DAX gained 0.6 per cent to 12,490. Britain’s FTSE 100 was down 0.1 per cent at 7,252. Futures augured a tepid start on Wall Street with S&P and Dow futures both up 0.2 per cent.
“US-centric politics once again played the key role in shifting the alternating market sentiment with US President Donald Trump toning down on the attacks upon Syria,” Jingyi Pan, a market strategist at IG in Singapore, said in a daily commentary. “Early movers in the Asian region have certainly caught on this improved sentiment, with the icing on the cake being President Donald Trump’s directive to consider the re-joining of the Trans-Pacific Partnership.”
Trade has been a big issue that swayed global stock markets since the onset of the trade dispute between the United States and China.
US-centric politics once again played the key role in shifting the alternating market sentiment Jingyi Pan, market strategist at IG
Those concerns took a back seat as Trump asked advisers to explore the possibility of the US returning to trade talks with 11 Pacific nations to rejoin the Trans-Pacific Partnership.
Trump put off a final decision on possible military strikes against Syria after tweeting earlier that they could happen “very soon or not so soon at all.” The White House said on Thursday the United States will continue to consult its partners and allies. The statement eased worries about escalation of tensions. Trump’s earlier tweet suggested that he wanted to retaliate against Russia after the recent suspected chemical attack in Syria. Asian markets finished higher. Nikkei 225 rose 0.6 per cent to 21,778.74. South Korea’s Kospi advanced 0.5 per cent to 2,455.07. Hong Kong’s Hang Seng index edged down 0.1 per cent to finish at 30,808.38. China’s Shanghai Composite Index lost 0.7 per cent to 3,159.05. Australia’s S&P/ASX200 rose 0.2 per cent to 5,829.10. Stocks in Taiwan, Singapore were higher but in the Philippines and Indonesia they were lower.