Sun, Dec 08, 2019 - Page 14 News List

TAIEX rises amid thin turnover

CONSOLIDATION:One analyst said that with foreign institutional investors stepping away for the holidays as the index nears technical resistance, a breakthrough is unlikely

Staff writer, with CNA and AFP

“Things are looking modestly positive, but that can change on a dime,” Glenmede Trust investment strategy officer Michael Reynolds told Bloomberg News. “We’re expecting trade to dominate the narrative for the next week and a half as we approach that Dec. 15 deadline.”

Still, analysts have said that progress in the talks is key for both sides.

The next round of tariffs “will punish the US consumer as prices of children’s toys, laptops and other electronics will jump higher,” OANDA Corp senior market analyst Edward Moya said. “It could be political suicide in some battleground states if Trump went forward with these next rounds of tariffs.”

While traders were hopeful that the US would not go ahead with the levies, markets “are skeptical we will see a phase-one deal this side of the Christmas holiday,” he added.

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