World stocks near four-week high on US-China trade optimism
China’s yuan is at its strongest in five weeks but the dollar softens, with little market reaction to Trump’s televised address
New York — Stocks around the world extended recent gains and oil prices jumped on Wednesday on optimism that the US and China may be inching towards a trade deal, soothing fears of an all-out trade war and its possible impact on global growth. Optimism that the US would reach a trade agreement with China boosted US Treasury yields to their highest in 2019. Delegations from China and the US ended talks in Beijing on Wednesday amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China’s markets. China has pledged to purchase “a substantial amount” of agricultural, energy and manufactured goods and services from the US, the US Trade Representative’s office said on Wednesday. MSCI’s all-country index climbed 0.68% for a fourth day of gains. That added to advances since last week in equity markets around the world, following strong US employment report and comments from the Federal Reserve chief that calmed worries that US interes...
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