DAX Gains Momentum – China Takes the First Step

By 10/04/2018News

04/10/2018 – 6:20 pm: The Dax is leaving Tuesday trading with confidence. The leading German index closes just below 12,400 points, an increase of just under 1.1 percent. The upward trend is supported by China’s announcements to significantly reduce tariffs on automobile imports, among other things. China is thus taking a first step towards de-escalating the recently escalating trade conflict with the United States of America. In this context, President Xi Jinping spoke of a “new phase of opening up” his country. In addition, foreign access to the Chinese financial market should be significantly facilitated.

The stock markets around the world are correspondingly relieved. The danger of an escalating trade war had recently caused enormous uncertainty among investors. All the more reason to breathe a sigh of relief. Friendly guidelines from the Far East and green omens from the old world are now also pushing Wall Street into the northern course area. Dow Jones, S&P and Nasdaq are all reporting mark-ups above 1.5 percent at the moment. Meanwhile, the Euro can increase by a moderate 0.1 percent to currently 1.2339 US Dollars. Gold trades at USD 1,338, an increase of 0.2 percent per troy ounce.

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