Asia higher with HK tensions in focus

Tuesday, 26. May 2020 04:50

Major stock market indexes in Asia traded higher on Tuesday with national security bill which China intends to pass in focus. The legislation, put together by Beijing, was submitted to the country's parliament last week and aims to allow China to override local government in Hong Kong amid ongoing protests. It is believed the bill could undermine the city's governing principle, with unions across Hong Kong calling for a general strike over the matter.

Hong Kong's Hang Seng added 1.66% at 4:45 am CET, while, on the Chinese mainland, the Shenzhen Composite traded 1.41% higher at the same time, with the Shanghai Composite gaining 0.7% a minute earlier.

In the meantime, in Japan, the BoJ Governor, Haruhiko Kuroda said the central bank is ready to take further steps to help the nation's economy as it is in an "increasingly severe situation" due to the pandemic.

Japan's Nikkei 225 increased by 2.2% at 4:30 am CET, while the dollar fell 0.13% against the yen, going for ¥107.8560 at 04:49 am CET.

On the other hand, South Korea's Kospi Composite was up 1.25% at 4:46 am CET, while the Australian S&P/ASX 200 grew by 1.77% at 04:43.

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Breaking the News / NL