Global Markets Respond to US-China Trade Drama

European shares opened the week with gains, contrasting with the losses seen in Asian markets, as investors navigated the aftermath of a volatile trading session on Wall Street. Oil prices advanced more than USD 1 per barrel, amidst ongoing US-China trade tensions.

Beijing's request for the US administration to retract heightened tariff threats added to the market unease. However, a conciliatory tone from President Trump over the weekend offered some relief, although the threat remained in place, impacting market sentiments.

Despite an initial tumble, Asian indices partially recovered losses with signs of trade rebalancing, as China's exports to other global markets increased. All eyes remain on the broader implications for global markets and the shifts in trade alliances.

(With inputs from agencies.)