Mainland Chinese shares, which were among the best performers over the past month, extended gains. FMTNews
TOKYO: Asian shares rallied to a four-month high on Friday on robust US payrolls data and a brisk pickup in Chinese service sector activity, but a surge in coronavirus cases in the United States kept a lid on stronger gains.
China’s services sector expanded at the fastest pace in over a decade in June, the Caixin/Markit services Purchasing Managers’ Index showed, as the easing of coronavirus-related lockdown measures revived consumer demand. Brokerage shares were leading the gains in China on hopes of further capital market reform, a move that is in part fuelled, ironically, by Washington’s attempt to restrict Chinese firms’ access to Wall Street.
A separate report on jobless claims, the most timely data on employment, showed the number of people receiving benefits after an initial week of aid actually rose 59,000 to 19.290 million in the week ending June 20. On the other hand, expanded unemployment benefits to support those who lost their jobs due to the pandemic are due to expire at the end of this month, though many investors think Congress could extend the measure.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China orders American media outlets to give staff details after US moveThe move on AP, UPI, CBS and NPR is in retaliation for US measures against Chinese media outlets.
Read more »
Tit for tat: China orders 4 US media outlets to disclose finances, staffThe move is in retaliation for Washington's crackdown this month on 4 Chinese state media outlets. FMTNews China Media AssociatedPress NPR CBS
Read more »
China to announce curbs on US media, says Global Times editor | Malay MailBEIJING, July 1 — China will announce reciprocal curbs on US media outlets in the country, the editor in chief of the Global Times newspaper said on Twitter today. Hu Xijin gave no details of the measures. His paper is published by the People's Daily, the official newspaper of China's ruling...
Read more »
US delays return of diplomats to China over concerns on virus safety measuresWashington and Beijing have been in close communication with each other but yet to reach an agreement. FMTNews Quarantine Diplomats
Read more »
US House passes bill to penalise banks doing business with China officialsBritain reprimands HSBC saying the rights of Hong Kong should not be sacrificed for bankers' bonuses. FMTNews US China
Read more »