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Analysts at Deutsche Bank note that there was a little reaction to the headlines which broke last night suggesting that China was to offer the US a $200bn reduction in its annual trade surplus with the country.

Key Quotes

“As a reminder the $200bn number was demanded by Trump’s administration earlier this month following a visit to Beijing. A Bloomberg story noted that China would increase imports of US goods following talks between the two nations in Washington this week and on a similar note China has also said that it will end its anti-dumping and anti-subsidy investigations into US imports of sorghum. The Hang Seng (+0.12%), Shanghai Comp (+0.28%) and Nikkei (+0.40%) are all up modestly on the news, as are US equity futures (+0.22%) however all eyes will likely be on Trump’s twitter account at the US open to see his response.”