Global stocks dive after China sets up a fresh showdown with Trump and shocks investors by announcing a new Hong Kong security law
Jeffrey Halley, a senior market analyst at OANDA covering Asia said:"The very real threat now, is the return of mass protests to the streets of Hong Kong, a downgrade in trade status with the US, and potentially an exit of large companies from the SAR [Special Administrative Region].A value-investing expert explains why beaten-down stocks are the most appealing since the dot-com bubble - and shares 3 stocks he bought as the coronavirus crash created 'rare' opportunities.
China also took the rare decision on Friday to drop its GDP target, reflecting uncertainty over the future of its economy this year amid the coronavirus pandemic."If it happens we'll address that issue very strongly," US President Donald Trump said on Thursday when asked about the possible imposition of a law such as the one introduced Friday,"A further crackdown from Beijing will only intensify the Senate's interest in re-examining the U.S.-China relationship," U.S.
Halley said:"The fact that Beijing is prepared to push ahead with such a step knowing what the response will be, and what that could mean for Hong Kong - and for US relations with Taiwan - should be of deep concern to markets."
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