Global stock markets rose Monday ahead of the signing of an
interim U.S.-Chinese trade pact as investors shrugged off weaker-than-expected
American jobs data.
London and Frankfurt rose in early trading while Shanghai,
Hong Kong and South Korea finished higher. Japanese markets were closed for a
holiday.
Investors expressed little concern over Friday’s data
showing American employers added fewer jobs than forecast in December. Concern
over a potential U.S.-Iranian conflict faded.
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| Global stocks |
Traders looked ahead to this week’s signing of the interim
U.S.-Chinese trade deal, which they hope will be a step toward ending a tariff
war that threatens to drag down global economic growth.
Markets start the week “on a cautiously optimistic tone” as
investors look ahead for the possibility of further U.S.-China trade progress,
Mizuho Bank said in a report.
The “Phase 1” agreement has helped ease market jitters,
though economists warn it leaves major disputes unresolved and the outlook for
negotiations is unclear.
“Thornier issues such as enforcement may come back to haunt
further negotiation progress,” Mizhuo Bank warned.
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