|4 Dec《Global Market Headline》US and China announced a temporary truce on trade war, US stocks rose|
United States: The United States and China announced a temporary truce and US stocks rose. The US stock market Dow Jones index rose 287.97 points, or 1.13%, to close at 25,826.43 points. The S&P 500 index rose 30.20 points, or 1.09%, to close at 2,790.37 points. The Nasdaq index rose 110.98 points, or 1.51%, to close at 7,441.51 points.
US: The US ISM manufacturing index for November was 59.3, better than analysts´ expectations of 57.5, rebounding after hitting a new low in the second half.
Europe: The news pointed out that US President Trump and Chinese President Xi Jinping reached a consensus on trade wars. They agreed not to impose new tariffs during the 90-day period, so that the leaders of the two countries have time to resolve major differences. The news supported a sharp rise in global stock markets. The pan-European Stoxx 600 index rose 3.69 points or 1.03% to 361.18.
South Korea: South Korea´s GDP in the third quarter was 0.6%, which was 0.6% in line with expectations. The final value was 2%, which was also in line with expectations of 2%.
Southeast Asia: Inspired by the Sino-US trade war, the Southeast Asian stock market rose mostly, the Indonesian stock market rose 1.03%, and the Vietnamese stock market rose 2.7%.
Commodities: Brent crude oil futures closed up $2.48, or 4.17%, to $61.94 a barrel, as Russia said it would join Saudi Arabia´s plans to cut oil production.
Commodity: The weak dollar has supported gold´s rise. Gold rose $13.60, or 1.1%, to close at $1,239.60 an ounce, the highest since November 1.
Currency: The Sino-US trade war has been suspended, the financial market risk appetite has risen, and the dollar has gone. The US dollar index fell 0.2% to 97.047.
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