Major stock markets in Asia closed mostly higher on Monday, as investors basked in the easing geopolitical tensions in the Middle East and the long-awaited ratification of the Phase 1 trade deal. Vice Premier Liu He, is in Washington from today and the signing is scheduled for tomorrow. The Shanghai Composite gained 23 points or 0.8% to 3,116 touching the highest level since April 2019. News that the US Treasury is prepared to drop the designation of China as a currency manipulator as part of new trade talks also helped boost investors' mood. Offshore RMB strengthened to 6.889 the strongest since July 2019.So, as we still don‘t have the text of the deal, the media remains a slough of conjecture. In declaring a win, the deal gives Trump the internationalist several advantages, the most salient is that it ends the on-going damage of the current trade war, it steadies the markets, and allows Trump to refocus on his many problems at home. However, the small print of Phase 1 has every opportunity to disappoint his stakeholders which is perhaps why he insists he is going to initiate Phase 2 immediately.As we know, the FED has stated it expects to make no adjustment to US rates prior to the November election. But let us not forget, Trump has retained 25% tariffs on US$250 billion of Chinese imports which allows Trump to opportunistically reduce tariffs on Chinese goods close to the election should the US economy or finANCial markets fall significantly.However, Trump’s theme in the 2016 election was to blame outsiders as the root of Americas problems and there is no suggestion that will change in 2020. So, step forward the actual volume of Chinese agricultural purchases, currency rates, 5G technology, IP rights, state subsidies, technology transfer and the potent mix of technology and national security concerns and we have the many issues with which to galvanise Trump's political base should Trump the populist claim “unfair”.Have a good dayvuF91联合｜一站式招商信息整合平台

　　John Browning先生于2002至2004年担任伦敦金属交易所LME的董事会成员和电子商务委员会主席，被业界公认在建立LME电子交易平台方面做出过突出贡献。vuF91联合｜一站式招商信息整合平台

　　2008年，在移居到亚洲之前，Browning先生为伦敦巴克莱资本集团Barclays Capital电子交易部董事。在新际金融Newedge任职香港金属部主管时，他与石成虎先生共同开发了世界上第一个可同时交易国内和国外期货市场的套利交易系统。创立磐石之前，Browning先生任职Jefferies香港商品部董事总经理vuF91联合｜一站式招商信息整合平台