Trump blasts China over Hong Kong national security law

Investors have lifted US-China tensions and Hong Kong shares have risen

Of Hong Kong Hang Senong Index (HSI) The morning trade rose more than 3.3%. Last week, US President Donald Trump announced that there was a first chance for investors that Washington would “begin the process of waiving policies that separate Hong Kong from mainland China and give it special treatment.”
Trump’s response came as a sign of rising tensions between the United States and China – the president blamed Beijing for approving a national security law that fundamentally undermines Hong Kong’s autonomy.
Experts point out, however, that Trump’s move is likely to have little effect because of Hong Kong Does not export lots of products US.

Stephen Inis, Axi Corp’s chief global market strategist, wrote in a research note Monday that Trump’s comments were “long in favor of criticizing China but short in favor of action.”

Other major Asian indices were also higher on Monday. South Korea Kospi (KOSPI) Japan’s 1.5% growth Nikkei 225 (N225) Final 1.2% and China Shanghai Composite Index (SHCOMP) Was up 1.7%.

“The prospect of reopening is well-known,” Ince wrote.

New data from China indicate that factories have begun recovering from the epidemic.

A closely monitored private survey found that manufacturing activity in the country increased unexpectedly last month. On Monday, media group Coxin reported that China’s manufacturing purchasing managers’ index rose to 50.7 in May from 49.4 in April. It also lost 49.9, managed by analysts Refinitives had expected a number increase above the 50-point level.

Wang Zhe, a senior economist at Coxin Insight Group, wrote, “The domestic economy recovered from the epidemic and production recovered faster than demand.” Exports are scarce as the virus continues to plague.

The Chinese government also over the weekend Reported that its official manufacturing PMI rose in May. According to Jeffrey Haley, senior market analyst at Wonder Asia Pacific, the official non-manufacturing PMI survey, which measures the services sector, also indicated an expansion – another suggestion of a recovery in domestic economic activity.

Although South Korea and Taiwan saw production shrink in May. According to Alex Holmes, Asia economist at Capital Economics, after the decline in output in the Philippines, Vietnam, Malaysia and Thailand, the PMIs of Southeast Asian countries have shown signs of contraction rather than growth, according to Capital Economics Asia Economics.

“The bigger picture remains the same – the region’s manufacturing sector is in deep recession,” Holmes wrote in a note Monday. “Output is likely to remain below normal for several months to come as domestic and global demand is very depressed.”

US stock futures Was muted Dow (Indu) Futures were up 0.1%, while NASDAQ (Comp) And S&P 500 (SPX) The future was mostly flat.

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