NEW YORK, July 25 ― Shares worldwide skidded further yesterday as a pickup in US and European business activity did little to ease jitters about rising US-China tensions, while gold broke above US$1,900 (RM8,099) an ounce on its march toward a record high. In a tit-for-tat move, Beijing ordered...
Technology stocks such as SAP SE and ASML Holding NV led losses in Europe, while Germany's export-heavy DAX index slumped 2 per cent. ― Reuters pic
Data showing business activity in the euro zone returned to growth failed to cheer investors. German manufacturing avoided contraction for the first time in 19 months in July with a notable upturn in sales abroad. A 16.2 per cent slide in Intel Corp shares after the company said it was six months behind schedule in developing a next-generation, power-efficient chip led US stocks lower.
MSCI's benchmark for global equity markets slid 0.81 per cent, while emerging markets stocks fell 1.57 per cent. Gold resumed its march toward a new record peak, scaling US$1,900 for the first time since August and September 2011, when spot prices only traded above that level on four days. The rally has been driven by fears of an economic hit from the pandemic.US gold futures settled up 0.4 per cent at US$1,897.50.
The US-China row put copper ― a prime Chinese import ― on track for its first weekly loss since mid-May, but analysts expect recovering demand and low stocks to keep prices high.Oil prices edged higher, supported by a weaker dollar. But US-China tensions and wider economic uncertainty weighed.
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.
Rising US-China trade tension drags ringgit lower against US dollar | Malay MailKUALA LUMPUR, July 23 — The ringgit reversed yesterday’s gains to end slightly lower against the US dollar today as market sentiment was weighed by the escalating tensions between the United States (US) and China, a dealer said. As at 6pm, the local unit ended at 4.2560/2610 against the...
Read more »
Stocks hit by China-US tensions, jobs data, stalled stimulus talks | Malay MailHONG KONG, July 24 — Asian equities took a beating today on rising China-US tensions while a worse-than-forecast US jobs report and stalled stimulus talks in Washington fuelled fears about the economic recovery. The losses come at the end of another tough week for markets, which have shown signs...
Read more »
China tells US to shut Chengdu consulate, retaliating for Houston | Malay MailBEIJING, July 24 — China ordered the United States today to close its consulate in the city of Chengdu, responding to a US demand for China to close its Houston consulate, as relations between the world’s two largest economies deteriorate. The order to close the consulate in Chengdu, in...
Read more »
South China Sea – Time to display firm resolve — Jason Loh | Malay MailJULY 24 — As China continues its incursions into Malaysia’s Exclusive Economic Zone (EEZ) in the South China Sea, there is a need for the latter to display firm resolve by leaving no doubt that we are prepared to use force in the extreme of circumstances, given the recurrent blatant and...
Read more »
China says more disasters expected as torrential rains continue | Malay MailSHANGHAI, July 23 — Chinese regions as far apart as Sichuan in the southwest and Gansu in the northwest are at heightened risk of natural disasters in the coming days amid another round of torrential rain, the country's weather bureau said today. Parts of the eastern coast, including the Bohai...
Read more »
China launches its first unmanned mission to Mars | Malay MailWENCHANG (China), July 23 — China successfully launched an unmanned probe to Mars today in its first independent mission to another planet, in a display of its technological prowess and ambition to join an elite club of space-faring nations. China’s largest carrier rocket, the Long March 5 Y-4,...
Read more »