NEW YORK: Global stock markets got a bounce Monday after the US and China effectively called a truce in what had been a spiraling trade dispute, letting investors heave a sigh of relief. Analysts said China made no concrete commitments but still won at least a temporary reprieve from the Trump team, which looming US import tariffs off the table. Among those unable to celebrate the apparent trade truce were metal stocks that had stood to gain from reduced Chinese imports: AK Steel fell 5.1 percent and US Steel sank 3.8 percent. Elsewhere, London stocks ended the session with a gain of one percent and Paris closed 0.4 percent higher, while Frankfurt was shut for a public holiday. Continuing improvement in the US economy and signs of rising inflation have fanned expectations the central bank will lift borrowing costs four times this year.

Source: New Strait Times May 21, 2018 21:56 UTC