U.S. delay of some tariffs on Chinese goods fuels sentiment By Phuong Thao The VN-Index of the Hochiminh Stock Exchange increased slightly on August 14 – PHOTO: THANH HOA HCMC – Local stocks rallied in morning trade today, August 14, after United States President Donald Trump delayed 10% tariffs on some imports from China but they only made modest gains due to a selloff. Having leapt some eight points to an intraday high of 974 points, the VN-Index of the Hochiminh Stock Exchange retreated and closed up 2.08 points, or 0.22%, at 968.91. Trade dipped against the previous day, with volume shrinking 16.5% to 151.5 million shares and value sliding 19% at VND3.4 trillion. According to securities firms, investors were bullish as Trump on Tuesday backed off his deadline for 10% tariffs on the remaining US$300 billion of Chinese imports, delaying duties on cellphones, laptops and other consumer goods. The tariffs will be delayed until December 15, instead of taking effect on September 1. Global markets also cheered the news as the announcement sent U.S. stocks surging, after steep losses in the past week, with the Standard & Poor’s 500 up 1.5% and the Nasdaq Composite gaining nearly 2%. However,… Read full this story
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