Global stock markets rose Friday after a record day on Wall Street in response to US President Donald Trump’s tax-cut pledge and his more friendly comments with regard to China.
In a speech via video link at the World Economic Forum in Davos, Trump pushed for lower interest rates and said he would cut taxes for companies investing in the United States while imposing tariffs on those who do not.
He also said in a separate interview that he would “rather not” impose tariffs on China and signalled openness at negotiating a trade deal with Beijing.
“Clearly these are off-the-cuff remarks but it has left the overnight market feeling like there’s a scenario where China escapes the worst of the tariff regime,” said Jim Reid, managing director at Deutsche Bank.
That spurred Chinese equities to rally, with Hong Kong gaining nearly two percent and Shanghai also advancing.
In Europe, Frankfurt …