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Business Maverick: Hong Kong Stocks See Relief Gains; Dollar Slips: Markets Wrap

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Stocks in Asia nudged higher, with Hong Kong jumping at the open after U.S. President Donald Trump on Friday stopped short of specifying tough sanctions over China’s new national security law for Hong Kong.

in some American cities that have stoked concerns about a reacceleration in infection rates and a damper on the economic recovery. Crude oil fell.

“President Trump’s response on Friday was pretty muted and far less disruptive than markets had feared,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney. “The impact is likely to be limited and more symbolic while the financial sector is unlikely to be affected,” Sean Darby, Jefferies’ global equity strategist in Hong Kong, wrote in a research note. “We are not too surprised by the move and don’t expect the Hong Kong financial markets to be either.”Australia’s central bank is expected to keep its main policy programs unchanged on Tuesday.

 

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