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<Research>Citi: CN-US Trade Risks Reduced; Bullishness on CN/ HK Equities Reiterated
China and the US released a joint statement on China-US Economic and Trade Meeting in Geneva announcing that they agreed to slash tariffs on each other's commodities for an ini...
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<Research>Citi: CN-US Trade Risks Reduced; Bullishness on CN/ HK Equities Reiterated
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China and the US released a joint statement on China-US Economic and Trade Meeting in Geneva announcing that they agreed to slash tariffs on each other's commodities for an initial period of 90 days, according to Citi Research's research report.

The magnitude of the tariff reductions may be greater than the market consensus, and reflects that China and the US have already set up a channel of communication, which may help reduce the risk of trade tariffs in the future. The broker believed that the joint statement has brought a positive sentiment to the market.

Related NewsHSBC Research Forecasts CN RRR Cut, Rate Cut to Bode Well for Banks/ Insurers/ Brokers; Top Picks HKEX/ BOCHK/ CCB/ ICBC/ Ping An/ CICC
Citi Research reiterated its positive view on Chinese and Hong Kong equities, mainly due to lower trade risks between China and the US and the fact that valuations do not appear to be high at the moment.

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