JPMorgan upgrades emerging market equities as Sino-U.S. trade war eases

News Snapshot:

J.P.Morgan upgraded its rating on emerging market equities to “overweight” from “neutral” on Monday, citing easing U.S.-China trade tensions and a softer dollar. Last week, the U.S. and China agreed to a 90-day tariff reduction, with the U.S. cutting duties on Chinese goods to 30% from 145% and China lowering tariffs on U.S. imports to 10% from 125%, fuelling hopes of easing global trade tensions. “De-escalation on US-China trade front reduces one significant headwind for EM equities,” JPM analysts said in a note, adding that the stocks would be further helped by a weakening of the greenback in the second...