HONG KONG: Equities rallied again on Friday (June 5) on optimism over the easing of lockdown measures, massive stimulus and signs that the worst of the global economic downturn may be over.
While tensions between China and the US continue to play in the background, the general mood at the start of June remains upbeat, helping Hong Kong climb around eight per cent this week, while crude was on course for another positive week as demand picks up.
Tokyo's Nikkei ended 0.7 per cent higher, Hong Kong surged 1.7 per cent, Seoul and Singapore climbed more than one percent and Shanghai added 0.4 per cent. Bank chief Christine Lagarde warned the eurozone economy would contract 8.7 per cent this year, but predicted a rebound over the next two. "A gnarly is likely to herald the highest unemployment rate since the Great Depression," said AxiCorp's Stephen Innes.
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.
Hong Kong legislature votes for law banning China anthem insults'We are forced to become slaves of this regime,' argues one pro-democracy lawmaker. FMTNews
Read more »
HSBC's top exec backs China's security law for Hong KongThe bank's statement comes as tensions rise between London and Beijing.FMTNews
Read more »
China warns Britain interfering in Hong Kong will 'backfire'Beijing tells UK to 'abandon colonial mindset' and 'immediately stop interfering'. FMTNews China HK
Read more »
Hong Kong stocks extend gains to fourth day | Malay MailHONG KONG, June 4 — Hong Kong stocks rose for a fourth straight day today as the easing of lockdown measures around the world continued to trump concerns about China-US tensions. The Hang Seng Index climbed 0.17 per cent, or 40.68 points, to 24,366.30. The benchmark Shanghai Composite Index...
Read more »
China warns Britain interfering in Hong Kong will 'backfire' | New Straits TimesBEIJING: China warned Britain on Wednesday that its interferences in Hong Kong's affairs will 'definitely backfire' after London criticised plans for a national security law in the former colony.
Read more »