New York: Global markets registered a significant rise on Monday after US President Donald Trump announced that electronic goods imported from China would not be subject to tariffs, easing trade tensions between the two countries.
According to Yemen News Agency, Sami Shaar, chief economist at Lombard Odier, confirmed that the chances of future tariff reductions have improved somewhat, despite ongoing concerns about uncertainty.
In Asia, Japan's Nikkei 225 rose by 1.18%, South Korea's KOSPI by 1%, Hong Kong's Hang Seng by 2.3%, and the Shanghai Composite by 0.8%. These increases reflect a positive market reaction to the exemption announcement.
In Europe, the indices also experienced gains, with Germany's DAX rising by 2.43%, France's CAC 40 by 2.13%, and Britain's FTSE 100 by 1.72%. The European markets mirrored the optimistic sentiment seen in Asia.
In Russia, the MOEX rose by 0.45%, and the RTS by 0.44%, indicating a favorable response to the developments in US-China trade relations.
In the US, S and P 500 futures rose 1.1%, and the Dow Jones Industrial Average rose 0.6%, despite continued concerns over the weak dollar and trade war fears. The positive movement in US markets further emphasizes the global impact of the tariff exemption decision.