Technology, industrials and banks lead rally as U.S. stocks rise

Technology, industrials and banks lead rally as U.S. stocks rise

Technology, industrials and banks lead rally as U.S. stocks rise

"We hope developed countries will stop imposing restrictions on normal and reasonable trade of high-tech products and relax export controls on such trade with China", he said, without naming any specific country.

On Friday, Trump had warned of tariffs on an additional $100-billion (R1.2-billion) worth of Chinese imports, to which Beijing responded by saying it would stand firm.

The comments prompted a rapid and largely positive reaction in financial markets, which have been rattled over the past week on fears the tit-for-tat U.S.

Beijing yesterday denied Chinese President Xi Jinping's (習近平) pledge this week to further open the country's economy was related to its trade dispute with the United States, saying that there were now no negotiations between the two sides.

"The commercial appetite of Chinese firms for United States investment expansion is stronger than ever, but regulatory hurdles are unlikely to fade in Beijing and will nearly surely increase in the U.S., casting uncertainty over the near-term outlook", the report said. In recent days, Chinese officials have expressed increased frustration with the US, with the foreign ministry on Monday calling talks "impossible" under current conditions.

"This is a promising signal that there can be a path forward to address [America's] concerns without a full-on trade war emerging", said Stephen Ezell, vice president of global innovation policy at the Information Technology & Innovation Foundation, a think tank that has criticized both China's aggressive trade practices and President Donald Trump's confrontational response to them.

As of late October 2017, the USA had poured $9.4 billion into Vietnam, ranking it 9th of the 100 countries and territories with investments in the Southeast Asian nation.

"The losing $500 Billion a year, and has been losing Billions of Dollars for decades", Trump added.

The US president welcomed the speech and said he saw an end to the dispute, which has roiled markets since the start of March.

Xi's comments also lifted the USA dollar against the Japanese yen.

"China's door of opening up will not be closed and will only open wider", Xi said at the Boao Forum for Asia on the southern island of Hainan.

Ties between the Philippines and China have warmed since Duterte took office in 2016 as his administration adopted what is seen as a softer stance on the maritime dispute over the South China Sea between the two countries. "Also, his enlightenment on intellectual property and technology transfers. We will make great progress together!"

However, China was not willing to accede to a key USA demand-that it stop subsidizing the 10 high-tech industries targeted in the "Made in China 2025" program.

Only utilities and real estate, which are sensitive to interest rates, posted losses after United States producer prices rose more than expected in March, indicating that inflation is strengthening, which could push interest rates up further.

The soybean tariff is part of a carefully-targeted strategy by Chinese President Xi Jinping to strike at the heart of Trump's base, Ek says, while minimizing risks to the Chinese economy.

The State Council Information Office, which represents China's central government, didn't reply to faxed questions Monday on USA trade talks.

US crude rose 3.66 percent to $65.74 per barrel and Brent was last at $71.22, up 3.74 percent on the day.

His remarks assume significance as both the U.S. and China are locked in a virtual trade war, slapping additional import duties against each other's products.

Washington and Beijing are going toe-to-toe in a trade spat, and Vietnam is set to become embroiled in the conflict, for better or for worse.

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