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Trump Meeting With Xi-Jinping: US President Donald Trump has met Chinese President Xi Jinping. During this, both the leaders have praised each other a lot.
Trump Meeting With Xi-Jinping: US President Donald Trump met and held a meeting with Chinese leader Xi Jinping. Since then there has been a decline in Asian stocks. Although Trump said that the meeting was wonderful and many issues were resolved, investors appeared skeptical. During this period, the American futures markets remained stable. During this meeting, Trump shook hands with Xi Jinping. Donald Trump said that it is a matter of great honor. I think we will have a great relationship for a long time and it is an honor to have you with us. I have no doubt that our meeting will be very successful.
Decline recorded in the market
Meanwhile, after the Bank of Japan kept its benchmark interest rate unchanged, Tokyo’s Nikkei 225 index first jumped down and then reached 51,333.51 with a gain of less than 0.1 percent. At the same time, Chinese markets lost their initial gains, Hong Kong’s Hang Seng fell 0.2 percent and closed at 26,298.64. The Shanghai Composite Index fell 0.3 percent to 4,006.60.
Kospi index shows rise
South Korea’s Kospi index crossed the 4,000 mark for the first time, rising 0.1 percent to trade at 4,084.91. Earlier in the day, it had risen more than 1 percent after reports of progress in trade talks between Washington and South Korea. Strong corporate earnings also boosted shares of tech, auto and shipbuilding companies.
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These indices of China also increased
At the same time, in the Chinese markets, Hong Kong’s Hang Seng index rose by 0.8 percent to reach 26,555.36, while the Shanghai Composite Index was seen trading at the level of 4,017.95, rising by less than 0.1 percent. The Hong Kong Monetary Authority (HKMA) on Thursday cut its base rate by 25 basis points to 4.25 percent.
Trump’s announcement while talking to the media
Speaking to the media, Trump said that he is reducing the average tariff on Chinese products from 57 percent to 47 percent, which will be effective immediately after his first face-to-face meeting with Chinese leader Xi Jinping in 6 years. Trump also said that China is suspending for one year its policy of imposing strict restrictions on the export of rare earths and related technologies and he hopes that this agreement will be extended.
Also read: Trump again praised PM Modi, his tone seems to be changing continuously; Ceasefire mentioned again
