Hang Seng surges 550 pts despite US-China tensions

Tuesday, 11. August 2020 04:33

Major stock markets in the Asia-Pacific region traded higher on Tuesday as countries in the East began accelerating recovery from the coronavirus crisis.

Meanwhile, tensions between the United States and China continued to mount, resulting in Beijing sanctioning two US senators over Hong Kong. China also protested over the US visiting Taiwan, while President Donald Trump slammed the phase one trade deal between the two countries saying it has a "very little" value at the moment.

Kospi Composite rose by 1.41%, and Australia's S&P/ASX 200 went up by 1.11% at 4:30 am CET. Hang Seng surged by 2.30% or 564 points, while the Nikkei 225 jumped by 1.70% or 380 points at the same time. In mainland China, the Shanghai Composite climbed 0.84%, and the Shenzhen Composite advanced 0.72% at 4:16 am CET. The dollar stood slightly positive against the yen, selling for ¥106.0150 at 4:32 am CET.

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Breaking the News / ND