Friday, 29 November 2019

Stocks fall in Europe and Asia as Trump signs bills backing HK protests

While the US stock market was closed on Thursday, markets elsewhere fell.

The STOXX Europe fell 0.1 percent, the Shanghai Composite fell 0.5 percent and the Nikkei 225 fell 0.1 percent.

Markets were weighed down by concerns that US-China relations will deteriorate further after bills backing protesters in Hong Kong were signed into law by US President Donald Trump on Wednesday.

However, analysts remain hopeful that an anticipated “phase one” trade deal between the US and China will still be concluded.

“I think at the moment, right now, the markets are still giving the benefit of the doubt,” said Ken Wong, Asia equity portfolio specialist at Eastspring Investments. “The markets are anticipating, hopefully in the next couple of months, we do get an agreement in place.”

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