HONG KONG, June 1 — Hong Kong led an Asia-wide market rally today as investors breathed a sigh of relief after Donald Trump fell short of imposing strict measures against China, while a further easing of virus lockdowns continued to provide support. However, violent anti-racism protests across...
A pedestrian wearing a face mask, as a precautionary measure against the Covid-19 coronavirus, walks past an electronic stock market display showing movements of the Hang Seng Index in Hong Kong March 12, 2020. — AFP pic
Dealers had sold up ahead of a news conference Trump called regarding China’s plan for a new security law in Hong Kong but his actions were not as severe as feared. “Some are drawing the link between President Trump’s need for agricultural buys to shore up the Midwest ahead of the November presidential elections.”
“Most economists think the direct impact of revoking Hong Kong’s special customs status and more export controls will likely be limited, as Hong Kong will remain a free port, and its exports to the US account for less than 0.1 per cent of gross domestic product.”Tokyo ended 0.8 per cent higher, while Shanghai and Singapore were up more than two per cent, with Sydney, Seoul, Taipei, Manila and Bangkok more than one per cent higher. Mumbai gained 3.5 per cent.
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