Asian stocks climb to four-month high on US jobs data July 3, 2020 Asian stocks rallied to a four-month high today on robust US payrolls data and a brisk pickup in Chinese service sector activity but a surge in coronavirus cases in the US kept a lid on further risk-taking. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.5%, reaching their highest level since late February, [...]
China tells UK to stop ‘interfering’ in Hong Kong’s affairs July 2, 2020 China has urged the UK to stop “interfering” in Hong Kong’s affairs, warning that there would be consequences if the British government offers almost 3m citizens visas and a path to citizenship. The Chinese embassy in London said today that it “firmly opposes” Britain’s offer for Hong Kong citizens with British National Overseas passports to [...]
Hong Kong security law: UK confirms visa offer to 3m Hong Kong residents July 1, 2020 The UK has confirmed it will offer visas to 2.9m Hong Kong residents with a route to citizenship, after the imposition of new security laws by Beijing. Hong Kong residents with British National Overseas status and their dependents will be able to access five-year work or study visas, with a chance to apply for settled [...]
Hong Kong police arrest 70 protestors under controversial new security law July 1, 2020 Police in Hong Kong have arrested more than 70 protestors on the first day of a new law handing Beijing sweeping powers over the city. Chinese President Xi Jinping yesterday signed into effect new legislation allowing police to arrest people for subversion, secession and collusion with foreign forces in a law that effectively bans protests. [...]
Coronavirus takes the sparkle off Louis Vuitton’s finances as luxury brands brace for bumpy ride June 30, 2020 Louis Vuitton owner LVMH has forecast that the coronavirus crisis will take the shine off its finances for some time yet. Despite some signs of improvement this month, the world’s biggest luxury goods group admitted this morning that the best it can hope for is a “gradual recovery”, after sales were pummelled by lockdowns across [...]
Tiktok denies giving data to China over India ban June 30, 2020 Tiktok has today denied claims by the Indian government that it has shared individuals’ data with China, as the app went dark for the country’s 200m users. India yesterday banned Tiktok along with 58 other apps which have parent firms in China, claiming they “pose a threat to the sovereignty and security” of the country. [...]
World reserve currencies: Is the US Dollars’ days numbered? June 30, 2020 “Every dog has its day” is an expression believed to have come from 405 BC when a Greek playwright, Euripides, was mauled and killed by a pack of dogs. An analogy to this tale could be the US Dollar. Is the end nigh? Has the mighty Greenback ‘had its day’? Having been on the boards [...]
Ethereum transactions rise as decentralised finance keeps growing June 30, 2020 This week the price of Bitcoin (BTC) dropped steadily from a near $9,600 high to a low below the $9,000 mark before it started recovering. The cryptocurrency is now trading at $9,120, as it’s still range bound looking to stay above $9,000. Ether (ETH), the second-largest cryptocurrency by market capitalization, started the week trading close [...]
India bans 59 Chinese apps including Tiktok as standoff escalates June 29, 2020 The Indian government has banned 59 Chinese apps including social media platform Tiktok amid privacy concerns, as tensions between the two countries continue to escalate. India today announced it has blacklisted the usage of certain apps, including Sherait, UC Browser, Clash of Kings, Baidu, We Chat and Xiaomi, claiming they “pose a threat to the [...]
Six killed in Pakistan Stock Exchange attack June 29, 2020 Gunmen have attacked the Pakistan Stock Exchange building in the city of Karachi, police said today, with four assailants reportedly killed. The attackers used grenades and guns in their assault, according to local media. Pakistan’s stock exchange in Karachi is in a high security zone and also hosts many private banks’ head offices. “Four attackers [...]