Developing economies and limited restriction measures are slowly stimulating the growth of stock markets. These are great signs of improving economies all over the globe. The virus crisis is also slowly easing.
There is a new wave of positivity as investors are psyched to embark on a healthy journey. Similarly, reduction in death and infection rates continue to motivate traders.
However, the conflict between China and the US has left people in business in several large American cities worried.
Looming normalcy
In continents like Europe, governments have lifted some lockdown measures. They have reopened learning institutions, recreational centers, restaurants, clubs, etc. Countries are slowly returning to normalcy.
Residents are hoping that their financial status will hopefully improve.
Some of the countries which recorded the highest corona cases are also embarking on normalcy as the infection rates are slowly declining. Factories have resumed operations, traders, farmers, are all happy. Business people are looking forward to increased supply and consumption.
Different countries have recorded profits since authorities began lifting the restrictions.
Tokyo and Seoul have recorded an increase of 1%. Shanghai propped up by 0.2%, Sydney by 0.3%, and Mumbai rose to 0.9%.
The US, China conflict amid the Virus Crisis
Investors have rejected news that China was no longer in business with the US. And that it had stopped purchasing agricultural products from US farms.
There have been allegations of conflict between these two countries. The president of the United States during a presidential briefing unleashed a series of moves against China. Confirming they are currently not in good terms.
Despite so, the American State had uplifted restrictions imposed on the Asian country to avoid unnecessary confrontation.
All Eyes on the United States
“It seems that Friday’s press conference by the president might have marked the end of escalation between the two countries, at least for now,” said Gorilla Trades Ken Berman.
Residents of the US are protesting in the streets of large cities in the country following an unjust murder of a black man by a white cop.
The demonstrators have attracted so much attention as rights groups are also following up.
Meanwhile, during these protests, no one is keen on social distancing, hence the citizens’ risk contracting corona.
The US government could, in turn, fail to uplift the lockdown restrictions.
Key figures around 0810 GMT
Tokyo – Nikkei 225: UP 1.2 percent at 22,325.61 (close)
Hong Kong – Hang Seng: UP 1.1 percent at 23,995.94 (close)
Shanghai – Composite: UP 0.2 percent at 2,921.40 (close)
London – FTSE 100: UP 0.2 percent at 6,180.08
West Texas Intermediate: UP 0.7 percent at $35.67 per barrel
Brent North Sea crude: UP 0.9 percent at $38.65 per barrel
Euro/dollar: DOWN at $1.1124 from $1.1136 at 2050 GMT
Dollar/yen: UP at 107.82 yen from 107.58 yen
Pound/dollar: UP at $1.2528 from $1.2490
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