Asian shares pushed to three-month highs on Monday as progress on opening up economies helped offset jitters over riots in U.S. cities and unease over Washington’s power struggle with Beijing.
U.S. President Donald Trump’s directive on Friday to begin the process of eliminating special treatment for Hong Kong is likely to put China-U.S. tensions back in the headlines over the coming months, creating a new driver of volatility in global equity markets.
U.S. President Donald Trump’s directive on Friday to begin the process of eliminating special treatment for Hong Kong is likely to put China-U.S. tensions back in the headlines over the coming months, creating a new driver of volatility in global equity markets. The trade war, which began in earnest in the spring of 2018, had been a constant source of volatility for global markets, as a steady drip of headlines whiplashed investors. While tension between the world’s two largest economies started to re-emerge over the past month as the United States blamed China for the spread of the …read more […]
Oil prices edged down on Monday as traders took profits, with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June.
Jun.01 — Lindsey Ford, fellow at The Brookings Institute, discusses the rising tensions between the U.S. and China, Hong Kong’s special trading status with the U.S. and the probability of sanctions against China. She speaks on “Bloomberg Markets: Asia.” …read more […]
Jun.01 — Adam Gilmour, chief executive officer and founder of Gilmour Space Technologies, discusses the significance of the SpaceX launch and his outlook for the industry. He speaks on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — An equity market bounce that has weathered a pandemic, shut-down economies and tens of millions of lost jobs now must navigate spiraling civic unrest with the potential to exacerbate all of it.American stocks enter June more than two-thirds of the way back from a rout that erased $12 trillion from share values, thanks to a 36% rally since March that has defied every bearish prognostication. An astonishing display of resilience, the rally has pushed S&P 500 valuations to the highest in 20 years as it spread to industries like banks and airlines.Along with central bank support, prospects of …read more […]
National chains’ losses are covered by large insurance policies. But the financial impact on small businesses varies widely. …read more […]
U.S. gold futures ticked up 0.1% to $1,752.60. “Concerns about the unrest in the United States at the moment appear to be weighing on market sentiment,” said Michael McCarthy, chief strategist at CMC Markets, adding that rising tensions between the world’s top two economies provided further support to gold. Protesters have flooded the streets in the United States over the death of George Floyd in police custody, in a wave of outrage sweeping a politically and racially divided nation. …read more […]
Asia’s factory pain deepened in May as the slump in global trade caused by the coronavirus pandemic worsened, with export powerhouses Japan and South Korea suffering the sharpest declines in business activity in more than a decade.
Asian shares pushed to three-month highs on Monday as progress on opening up economies helped offset jitters over riots in U.S. cities and unease over Washington’s power struggle with Beijing.
(Bloomberg) — Chinese manufacturers that dominate nearly every step in the global solar power supply chain are being forced to slash prices as the coronavirus disrupts projects around the world.Costs for components like wafers and cells have fallen by as much as 20% since the start of the year. They likely haven’t bottomed out yet, either, as the outlook for demand remains uncertain and new mega-factories threatens to add supply.It’s bad news for the companies that make solar components and could lead to consolidation among some of the smaller players in the industry. The bargain-basement prices, though, could also spur …read more […]
May.31 — Several cities in the U.S. are bracing for more destruction after protests turned very violent over the weekend. The unrest erupted after George Floyd, a black man from Minneapolis, died at the hands of a white police officer. Bloomberg’s Flynn McRoberts reports on “Bloomberg Markets: China Open.” …read more […]
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