Global stocks rise on optimism about US-China deal

Global stocks rise on optimism about US-China deal

TOKYO (AP) — Global shares rose Thursday on optimism about a U.S.-China trade deal and the Chinese government’s efforts to boost its economy. France’s CAC 40 rose 1.4% to 6,058 on the new year’s first day of trading, while Germany’s DAX was 1% higher at 13,382. Britain’s FTSE 100 added 1% as well, to 7,617. U.S. shares were set to drift higher, with Dow and S&P 500 futures both up 0.6%.Australia’s S&P ASX 200 gained 0.1% to 6,690.60, while South Korea’s Kospi lost 1.0% to 2,175.17. Hong Kong’s Hang Seng jumped 1.1% to 28,511.92, while the Shanghai Composite gained 1.2% to 3,085.20. Tokyo was still closed for the New Year’s holiday.Market sentiment has been on an upswing after U.S. President Donald Trump said an initial trade deal with China would be signed this month. The “Phase 1” trade deal calls for the U.S. to reduce tariffs and China to buy larger quantities of U.S. farm products.Adding to the optimism was China’s centr
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