Hong Kong shares outperformed after returning from a holiday, despite the recent tensions over China’s new national security law over the city. Stocks in Australia, China, Japan and South Korea also rose. U.S. futures ticked higher after the S&P 500 rose for a third day and the Nasdaq Composite jumped to a record. An early trial of an experimental shot from Pfizer Inc. and BioNtech SE showed it was safe, and prompted patients to produce antibodies.
Meantime, U.S. House of Representatives passed by unanimous consent a bill imposing sanctions on banks that do business with Chinese officials involved in cracking down on pro-democracy protesters in Hong Kong. Relations between Washington and Beijing have soured badly in the months since the “phase one” trade deal was signed in January, while the coronavirus pandemic made many of its elements moot.
Traders also monitored minutes of the Federal Reserve’s June meeting, which revealed that various participants viewed the economy needing support
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:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: From Fear in Wuhan to Oil Crash: Six Months in Emerging MarketsEmerging markets endured a tumultuous first half as the Covid-19 outbreak made the start of 2020 one of the most unpredictable in decades.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Asia’s Factories May Be Over Worst as China Demand Picks UpAsia’s factory managers saw glimmers of hope in June, with the region’s purchasing managers indexes turning up across the board as demand from China picked up.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Pandemic plunge: Shell to write off up to $22bn in assetsGlobal oil major Royal Dutch Shell is writing off up to $22-billion worth of assets in the face of the Covid-19 pandemic, which has gutted oil and gas demand, and prices. A day of reckoning may be in the offing for the fossil fuel industry that built the world economy and brought us the climate crisis at the same time.
Source: dailymaverick - 🏆 3. / 84 Read more »
The arrests start in Hong Kong as new security law kicks inAs pro-democracy protests start up again, more than 30 arrests have been made, some for violating the new, nebulous security law
Source: BDliveSA - 🏆 12. / 63 Read more »
BUSINESS MAVERICK: SA’s first-quarter GDP contracted 2% ahead of pandemic lockdown meltdownSouth Africa’s gross domestic product shrank 2% in the first three months of 2020, Statistics South Africa said on Tuesday, 30 June. It was the third straight quarter of economic decline and the only question now is how much bigger the second-quarter contraction will be. Will the current recession become a depression?
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Vodacom ordered to come clean on Please Call Me revenueOn Monday 29 June, Judge Jody Kollapen of the High Court in Pretoria gave Vodacom 21 days to hand over financial records relating to ‘Please Call Me’ to the service’s inventor, Nkosana Makate.
Source: dailymaverick - 🏆 3. / 84 Read more »