The pound swung around on the latest Brexit drama. (AFP photo)NEW YORK: Global stocks rallied Tuesday as the United States took a step away from imposing crushing restrictions on Chinese telecom company Huawei, while the pound gyrated on fresh Brexit drama. Nate Thooft, senior portfolio manager of Manulife Asset Management, said Huawei seems to be a "bargaining chip" in the broader US-China trade talks, raising concerns China could respond by targeting US tech companies. After falling on Monday, large tech companies such as Apple and Google parent Alphabet pushed higher, lifting the Nasdaq by 1.1%. The pound, meanwhile initially shot higher in anticipation of British Prime Minister Theresa May's latest Brexit announcement.

Source: Bangkok Post May 22, 2019 00:50 UTC