JPMorgan upgrades emerging market equities as Sino-US trade war eases
Last week, the U.S. and China agreed to a 90-day tariff reduction, with the U.S. cutting duties on Chinese goods to 30% from 145% and China lowering tariffs on U.S. imports to 10% from 125%, fuelling hopes of easing global trade tensions. "De-escalation on US-China trade front reduces one significant headwind for EM equities," JPM analysts said in a note, adding that the stocks would be further helped by a weakening of the greenback in the second half of this year. J.P.Morgan remains positive on India, Brazil, the Philippines, Chile, the UAE, Greece, and Poland within emerging markets, and sees a promising opportunity in China, particularly in technology stocks.
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