Were put on hold due to coronavirus the restart. Hong kongs government says it will work with beijing to introduce a new National Security law as soon as possible Chinese Premier League jang announced the bill at the annual National Peoples congress were expecting more details later but its believed to ban sedition subs secession and sub version of the Central Government in Hong Kong News of the plan has already been met with protests and leading prodemocracy figures call it the end of the one country 2 systems. Adrian brown hes in on hong kong and were getting much reaction now. Well sadly this is been a very dark day for those people here in this city state who were already worried about hong kongs worsening autonomy and freedoms yes there have been some small protests here in hong kong as well as scuffles inside hong kongs legislature involving pro and Anti Government supporters there were of course clashes in that same chamber on monday now this new law this proposed law as you rig
We are also watching currency, the dollar has been the big story this week. The euro as well as its counterpart. We are taking a pause from the rally after the ecb, but if we see a gain today, that would take that streak for the longest in 16 years of nine days straight. So far it is flat. Flirting withlar . 70 for the first time this year. The dollar weakening across the board with the exception of the yen. Dollaryen, and offshore hovering. We are watching the bond markets as well. The mliv question is, the yields we are seeing, will they disrupt the equity rally . The u. S. 10 year after the u. S. Jobless numbers that fell again, treasuries ing the worst brent slipping after they did extend cuts after a breakthrough with iraq. Tom the European Central bank did put its money where its mouth is, announcing a bigger than expected increase in emergency bond buying, responding to what it calls the unprecedented contraction in the euro area economy. Kathleen hays has the story. What is dri
We had a few clouds hanging over the market and civil unrest will derail plans to reopen the economy and add to that the rising tensions with china the white house blocking Chinese Airlines from flying to the United States and the ongoing coronavirus pandemic plenty of reasons for investors to be worried and yet here we are. Stocks are sitting at threemonth highs. Guy, what is that expression that you like to say, bad news, good price action and something along those i mean, is that what were seeing in the markets here yeah. Pretty much. Dont label me some raging books, tim, steve and other people i dont know if theyve necessarily seen the extent of this, but theyve clearly said the pain train is higher and thats correct. What it comes down to is would you rather be right or would you rather make money. The warning signs are clearly there. If your stock goes from 5 to 10, youve doubled your money regardless of the reasons why and thats what its come down to and one other thing ill thro
Postvirus recovery. Banks leading the s p 500 to a three month high. Level since highest early march and hopes opecplus will eventually rebalance the market. However, divisions are showing among reducers. Producers. Shery lets get a check on how markets are trading. We are seeing some pressure from u. S. Futures, down slightly as we saw the extension of the rally on the s p 500 now at that three month high. Of course we had a report indicating that a recovery it was underway for global airlines. Led bowling higher boeing higher. As. Airline shares surging passenger flights are suspended from Chinese Airlines. 500 and now the 14 day rsi around 59, the highest since january. Optimism right now over and economic recovery. Take a look at what oil is doing. Wti under pressure. We have seen uncertainty over the opecplus deal. We got ape limit every deal to extend output by one month but there is still issues over cheating on output. Saudi arabia and russia drawing a hard line over compliance
Kong with more on whether they are announcement is likely to trigger a new protests there. Its hard to see those major protests flaring up again because of course social distancing rules are still being rigorously enforced here in hong kong by the police and of course for that reason this announcement from beijing may not be a coincidence after all the timing is very interesting indeed to say the least well be getting some reaction from prodemocracy figures here in hong kong including denis corkey says the news from beijing has left him speechless he says he believes that the Hong Kong Government and the Chinese Government are actually using the covert 900. 00 outbreak as cover to further clamp down on hong kong now the mood here in hong kong really began to change earlier this year in january when beijing appointed a new head of their Central Liaison Office and also a new head of the hong kong and Macau Affair Office those are the 2 beijing bodies that handle chinas affairs here in ho