US-China trade war has hit a stalemate and there are still major differences to be hammered out. US President Trump reiterated that he would either sign a “great” China trade deal or he would choose to walk away like how he did in the second nuclear summit with North Korean counterpart Kim Jong-un.
Some years back, China and Philippines were embroiled in a territorial dispute over the island reefs in the South China Sea. Singapore took a position in support of the Philippines, causing bilateral relations with China to deteriorate.
Over the Chinese New Year Holiday, US President Trump delivered his State of the Union (SOTU) address to Congress. His speech, in essence, was a campaign for his re-election bid in 2020. To rally US voters, Trump chose the slogan “Choosing Greatness” and criticised China for taking advantage of the US on trade matters in the past. However, Trump’s rhetoric was rather controlled and he blamed his predecessor Obama for allowing the US-China trade deficit to widen under his nose.
In December last year, the global stock market saw a rout as investors were spooked by a hawkish stance on interest rates by the Federal Reserve, coupled with uncertainty over US-China trade war. Despite the grim outlook, I shared my reasons for turning bullish in 2019 in the article “I Am Bullish For These Reasons”, at the beginning of the year.
Last September, US President Trump blew his own trumpet by declaring victory in the trade war against China. Citing how the US stock market was outperforming the Chinese stock market, Trump ratcheted up the ante by threatening to impose 25 percent tariffs on all Chinese imports at the start of 2019.
Donald Trump blew his own trumpet last September by declaring victory in the Sino-US trade war! He cited the US bull market, as opposed to the Chinese bear market, as the reason for the victory. As soon as the ...
The Hang Seng Index (HSI) rose for six consecutive sessions before pulling back 1.4 percent on 14 January. The following day, however, the bulls came back with a vengeance pushing the HSI higher by 2 percent baffling investors who sold into the correction when they could have made even more money.
In the year of 2018, major stock markets peaked out and began tumbling down. For the year, the US Dow Jones Industrial Average slipped 5.6 percent while Straits Times Index (STI) and Hang Seng Index (HSI) shed 10.6 percent and 13.6 percent respectively.
2018 is about to come to an end. In the year, stock markets around the world had made new records but it did not last long. For the Hong Kong stock market, the Hang Seng Index peaked out at the start of the year at 33,484 points. Our local stock market was more resilient as the Straits Times Index only turned south after touching 3,641 points in May 2018.
Before the Trump-Xi meeting at the G20 summit, US stocks began recovering on renewed hopes of some resolution over the US-China trade war. The media was generally optimistic that there would be some positive developments from the meeting on 1 December 2018.