0900 GMT - Uncertainty over U.S. trade policy has prompted China to broaden cooperation with other trading partners, such as Europe and Southeast Asia, HSBC Global Research analysts write in a note. As the uncertainty continues to affect trade flows and investment decisions, China has been making overtures to its neighbors. It signed an MOU with Indonesia extending cooperation in bilateral local currency settlements, which HSBC says will foster wider usage of CNY in the region. China's premier also traveled to Malaysia for an Asean summit, and leader Xi Jinping toured Southeast Asia last month. The recent warming up of China-EU relations also bodes well for improved trade and investment engagement, HSBC says, noting that the two sides' heads of trade plan to meet in early June. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
May 28, 2025 05:00 ET (09:00 GMT)
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