Asian stocks turn red as Hong Kong tensions sour mood
US stock futures pared earlier gains to trade 0.17% higher. Not all markets fell with investors in some countries keeping their focus on prospects of a post-coronavirus economic recovery.
All the same, the outlook remains fraught. The biggest risk to equities is the Sino-US relationship, which is likely to worsen after US Secretary of State Mike Pompeo said Hong Kong no longer warranted special treatment under US law. The proposal for new legislation is expected to be passed on Thursday by the National People’s Congress.Pompeo said overnight that China had undermined Hong Kong’s autonomy so fundamentally that the territory no longer warranted special treatment, a potentially big blow to the city’s status as a financial hub.
Sources have said the US government may suspend Hong Kong’s preferential tariff rates for exports to the United States, a far less severe response than formally revoking Hong Kong’s special status under US law.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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