OPEC Deal Pumps Up Energy Stocks
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Energy stocks rose sharply following OPEC's decision to freeze production. Analysts were sceptical about the deal, but traders were more positive highlighting market contradictions.
Mikio Kumada is also bullish on increase in infrastructure spending in China, supported by industrial profits which grew at its fastest pace in 3 years. However, negative factors relating to Deutsche Bank lingers and continues to weigh down on market sentiment.
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Tags: OPEC, China equities, systemic risks, Deutsche Bank, China economy