Mumbai: Indian markets may gain on Wednesday as US President Donald Trump signalled easing of US-China trade tensions. Trump said in tweet on Tuesday that he “had a very good telephone conversation with President Xi Jinping of China”.
“We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting,” Trump said.
Within minutes of his tweet, positive reaction was seen in the US financial markets. Analysts believe that this could act as a relief for the global investors who have been under pressure owing to the ongoing trade tensions.
Indian markets on Tuesday closed with minor gains and have been losing for the past four consecutive sessions.
US-China trade tensions have roiled financial markets since they began and also caused a slowing of global growth as noted by the International Monetary Fund (IMF). The tensions have also subdued oil demand and kept prices low. With developments in the Gulf region, the easing of trade tension among two of the worlds’ largest economies may also see a spike in oil prices. (IANS)