HONG KONG, May 25 — Most Asian markets rose today as a further opening up of economies from lockdown offset worries over worsening China-US tensions, while Hong Kong sank again after the city was rocked by protests at the weekend over a controversial proposed security law. While Donald Trump has...
Monday, 25 May 2020 11:20 AM MYT
While Donald Trump has limited travel from Brazil as the Latin American country sees deaths and infections spiral, traders were focusing on the more upbeat news that governments from Asia, across Europe and around the US were lifting economy-shattering shutdowns. “Global investors are continuing to map the reopening of global economies to the overall risk narrative,” said Stephen Innes of AxiCorp. “The global stock markets are moving higher with positive changes in mobility data. According to recent mobility data, the global economy has taken a giant step toward normality in the last week.”
The move has also raised concerns about Hong Kong’s future as a financial hub, with the US already passing a bill that would strip the city’s preferential trading status if it no longer enjoys autonomy from mainland China. Yesterday, China’s foreign minister said the US was pushing relations with between the two to “the brink of a new Cold War”.
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