Global shares retreats 22-month-peak on Sino-US tension, Hong Kong drags

by   |  VIEW 234
Global shares retreats 22-month-peak on Sino-US tension, Hong Kong drags

On Wednesday, the 20th of November 2019, a gauge of global stock indices was retreated from a nearly 22-month-peak, as a flared-up Sino-US trade tension alongside renewed concerns over a looming US recession had fuelled up demands of safe have commodities likes of precious gold.

In point of fact, Wednesday’s (November 20th) global equities tottered after US Senate had passed a bill late on Tuesday (November 19th) that would be requiring an annual certification of Hong Kong’s autonomy and cautioned China of violent oppression of Hong Kong protestors, raising angsts among the Chinese politicians, as Beijing immediately turned to the United States saying it should stop interfering with China’s internal affairs, otherwise Beijing would be forced to retaliate.

Meanwhile, holding US Senate’s acts on Hong Kong protests accountable for Wednesday’s (November 20th) wobbling trickle in the global equity market, a Chief investment strategist at Lombard Odier, Ahmed said on Wednesday’s (November 20th) midday European trading hours, “Markets have taken a bit of a wobble due to the talk about Hong Kong, but they had rallied a lot in recent weeks on expectations of a (trade) deal.

We are looking at a short-term setback rather than a major issue that would derail the process. The bill still has to be signed into law by Trump so there’s a high probability he will use it as leverage against China.

” Citing statistics, when this report was being prepared, November 20th, GMT. 14.00, European shares were tumbled by more than half a percent, winding away from a four-year peak reached earlier last week and Wall St.

was set to open lower in context of a steeply languishing crude oil futures’ prices, while the MSCI’s gauge of global index that keeps track of stock exchanges of 49 countries dipped 0.3 per cent and was on course to put an end to a three-day winning streak.

Meanwhile, MSCI’s index of Asia-Pacific shares excluding Japan fell by 0.7 per cent and mainland Shanghai soured 1 per cent, while Japan’s Nikkei 225 nudged 0.8 per cent lower and India’s BSE wrapped up the day 0.45 per cent higher.