World stock markets gain on US easing Huawei restrictions
European stocks with Asian exposure and chip makers gain the most as sterling falls below $1.27 for first time since mid-January
London — Stocks markets gained on Tuesday, with chip makers and stocks exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed on China’s Huawei last week. In Europe, the broader Euro Stoxx 600 edged up 0.3%, with Germany’s DAX 30 rising 0.6%, while France’s CAC 40 climbed 0.2%. At the close, China’s Shanghai Composite index was up 1.23%, while the blue-chip CSI300 index ended 1.35% higher. US President Donald Trump’s government added Huawei to a trade blacklist last week, escalating trade tensions between the world’s two biggest economies. Washington then allowed Huawei to purchase American-made goods to maintain existing networks and provide software updates to existing Huawei handsets until August 19. “The Huawei extension is in some sense providing a relief rally as it eases the worst fears of market participants that we are drifting towards a fully-fledged trade war,” said Aberdeen Standard’s head of global strategy, Andrew Mill...
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