World shares remained near a five-month high on Tuesday as China cut its growth targets to a 30-year low but added more stimulus, and a revived dollar headed for a fifth day of gains in the currency markets.
“You have had positive news on trade and positive news on the Federal Reserve , so you have had less to worry about, but what hasn’t really gone away is this slowdown in global growth,” JP Morgan Asset Management strategist Mike Bell said. It barely budged on Tuesday, but the index is now trading at 14.6 times expected earnings, on par with levels in early October, when a bear market began globally.
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