U.S. President Donald Trump's decision to delay raising tariffs on $200 bil...
NEW YORK - U.S. President Donald Trump’s decision to delay raising tariffs on $200 billion worth of Chinese goods has helped push global stock markets broadly higher as investors hope for a resolution in the trade war between the world’s two largest economies.
That is because China has responded to the threat of escalating trade tariffs by increasing its monetary and fiscal stimulus, softening the potential blow as its economic growth rate falls to the slowest pace in 28 years. At the same time, Chinese stocks - which fell into a bear market last year in part because of the trade tariffs - offer more compelling value than other emerging markets countries, said Arjun Jayaraman, a portfolio manager of the $4.5 billion Causeway Emerging Markets fund, which has gained 14.2 percent a year over the last three years, according to Morningstar.
“What we’ve really looked at in China are those companies focused on the domestic growth story, which I think is a much more exciting story than trying to find the export companies selling into lower-growth developed markets,” she said. As a result, intra-Asia trade is a good equities bet over the next few years, she said.The move by U.S.
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