SINGAPORE - Asia's stock markets pulled back and major currencies were held in check on Friday , as investors await the US response to China tightening control over the city of Hong Kong.
Japan's Nikkei inbdex dipped 0.3 per cent while South Korea's Kospi declined 0.2 per cent and Australia's S&P/ASX 200 Index fell 1.3 per cent. The possible US response could range from a tearing up of the Phase 1 trade deal and fresh tariffs on China, to milder travel or financial sanctions on Chinese officials, he said.
Hong Kong's government warned on Friday that withdrawing its special US status, which has underpinned it as a finance hub, could be a"double-edged sword" and urged the United States to stop interfering in internal affairs. MAY MARCHES ON Still, despite the gathering tension and the near-daily release of diabolical economic data, enormous global stimulus seems to have dispelled the old adage to"sell in May".
The number of Americans seeking jobless benefits fell for an eighth straight week last week and New York has outlined plans for reopening.
Later on, US stock market will follow