Global Market Report - January 24

World markets made modest gains today after Wall Street's recovery last night, but a stronger pound held back the UK's FTSE 100

James Gard 24 January, 2019 | 11:09AM

Global Market Report

Asia

Markets in Asia-Pacific made modest gains on Thursday after Wall Street’s move higher, but Japan missed out with a tiny loss on the day. China and Hong Kong indices crept forward but the moves were unconvincing.

China’s Vice President Wang Qishan addressed the World Economic Forum in Davos yesterday and stressed the interconnection of US and China economies in his pro-trade speech. He argued that, rather than China’s growth story reaching the end of the line, it is moving towards more sustainable growth and will deliver modest prosperity for its citizens by 2020.

But regional investors still have Monday’s headlines of weakening Chinese growth at the forefront of their minds. The 25% fall in Chinese stocks last year shows little sign of being erased this year, despite occasional moves to the upside.

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About Author

James Gard  is content editor for Morningstar.co.uk

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