Investors were also looking ahead to Friday's meeting of China's legislature for details of possible new steps by Beijing to stimulate its virus-battered economy.
A survey of business managers in the eurozone showed that activity continued to shrink at a rapid pace in May, despite a slight pickup from the historic plunge in April. The publishers of the survey, IHS Markit, said it indicates a 9% drop in GDP this year, with a recovery likely to take years. Investors are "trying to make heads or tails of the recent China trade spats with the U.S. and Australia," Stephen Innes of AxiCorp said in a report.
In Asia, the Shanghai Composite Index lost 0.6% to 2,867.92 and the Nikkei 225 in Tokyo declined 0.2% to 20,552.31. The Hang Seng in Hong Kong lost 0.5% to 24,280.03. Investors are looking to Premier Li Keqiang's speech to China's ceremonial legislature Friday for details of Beijing's spending plans to speed up economic recovery.
"Renewed trade tensions between the U.S. and China could weigh on markets in the coming months," Esty Dwek of Natixis IM said in a report. "Higher volatility is likely, especially as `tough on China' will clearly be a large part of Trump's re-election campaign."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global Emissions Drop During Pandemic, But Canada Still Lags: Study“Personal choice alone can’t do it,” one of the study's co-author says. We, that worked in the environmental field have known this for years. That the world population had to curb their economic, social and environmental behavior to curb climate change. It just happened, the COVID virus pandemic just force them into that behavior Stop the CoronaVirusHoax
Source: HuffPostCanada - 🏆 61. / 53 Read more »
Virus slowdown pushes global carbon emissions to 14-year lowSome of the behaviour seen during the COVID-19 lockdown could inform future policy, such as giving people incentives to work from home Co2 has not lowered. So maybe the reigning theory has holes in it. So we have our answer. To meet the greens goals we simply have to shutter the economy. Seems reasonable Not that it was an issue to start with
Source: nationalpost - 🏆 10. / 80 Read more »
World to Canada: You’re raising your carbon tax during a global pandemic?Opinion: With carbon tax burdens declining around the globe, walking back the recent carbon tax hike should be a no-brainer for our federal government fpcomment Yup. Nutso. fpcomment That’s what we get for having a PM that was a drama teacher prior to getting into politics! A waste of skin! fpcomment It works out to 2 cents a litre of gas....get a grip.
Source: nationalpost - 🏆 10. / 80 Read more »
Global carbon dioxide emissions could fall by up to 7 per cent this year, study showsGlobal carbon dioxide emissions could fall by up to 7 per cent this year, study shows GlobeBusiness globebusiness Haha, Globe and mail at 7%. CTVNews at 17%. Get your stories straight to be more credible
Source: globeandmail - 🏆 5. / 92 Read more »
WHO chief defends agency’s role, vows to continue leading global fight against coronavirus pandemicTedros Adhanom Ghebreyesus’s comments come after the United States again caused ripples by withholding full support for a resolution on the pandemic Step down YOU ARE NOT A LEADER YOU ARE A FAILURE Makes sense until it’s no longer a pandemic.
Source: globeandmail - 🏆 5. / 92 Read more »
Brazil coronavirus outbreak worsens as country closes in on No. 2 spot in global casesPresident Jair Bolsonaro has been widely criticized for his handling of the outbreak It was kumbaya just a month ago... parties on the beach just like pre-covid times for New Yorkers in Florida.. no 5 in recoved no 26 in deaths/ million no 56 in case / million Blame their leader who didn't take it seriously. 😂😂😂
Source: globeandmail - 🏆 5. / 92 Read more »