• Stocks Trade Mixed Amid Mounting China Tensions: Markets Wrap
    Bloomberg

    Stocks Trade Mixed Amid Mounting China Tensions: Markets Wrap

    (Bloomberg) -- Asian stocks began the week in mixed fashion as traders weighed more signs of economies reopening around the world against the rise in U.S.-China tensions.Hong Kong shares extended Friday’s slide, following police clashes with protesters marching against China’s move to crack down on dissent. Stocks climbed in Tokyo and Sydney, and fluctuated in Seoul and Shanghai. S&P 500 futures nudged higher, building on a rally from late in the Friday session. Oil dipped. Trading volumes may be light with holidays in the U.S., U.K. and Singapore. China set its daily yuan reference rate at the weakest level since 2008 after the increasing tensions drove the currency to a seven-month low.On the virus front, Japan’s government is expected to lift the state of emergency in Tokyo and its surrounding regions later Monday, while more Australian children returned to schools and a hard-hit region in northern Italy reported zero fatalities for the first time. Still, the U.S. is considering restricting travel from Brazil, which now has the second-highest number of cases.Fresh turmoil in Hong Kong that spilled over into street protests this weekend is threatening to damage an already souring Sino-U.S. relationship. The U.S. should give up its “wishful thinking” of changing China, Chinese Foreign Minister Wang Yi said, warning that American leaders are potentially pushing toward a new Cold War. Bullish sentiment is prevailing for now and global equities remain about 30% higher than the March lows, spurred by stimulus measures and optimism for a swift rebound from the virus.“One big threat to the recovery in markets is the escalating war of words between the U.S. and China,” said Shane Oliver, head of investment strategy at AMP Capital Investors Ltd. in Sydney. “The main focus will likely remain on continuing evidence that the number of new Covid-19 cases is slowing in developed countries, progress towards medical solutions, the reopening of economies and signs that economic activity is picking up.”Here are some key events coming up:U.S. markets are closed Monday for Memorial Day holiday, while the U.K. is shut for the Spring bank holiday.Earnings continue with companies including Nissan Motor, British Land, Royal Bank of Canada and HP Inc.Singapore’s parliament on Tuesday is expected to announce another stimulus package.Thursday brings the U.S. jobless claims reading for the week ended May 23.Federal Reserve Chairman Jerome Powell participates in a virtual discussion on Friday.These are the main moves in markets:StocksFutures on the S&P 500 rose 0.1% as of 10:22 a.m. in Tokyo. The gauge rose 0.2% on Friday.Japan’s Topix index advanced 1%.Hong Kong’s Hang Seng slid 0.9%.Australia’s S&P/ASX 200 Index added 1.5%.South Korea’s Kospi Index dipped 0.1%.CurrenciesThe yen was little changed at 107.64 per dollar.The offshore yuan held at 7.1495 per dollar.The euro bought $1.0899, little changed.The Aussie dipped 0.1% to 65.32 U.S. cents.BondsThe yield on 10-year Treasuries fell one basis point to 0.66% on Friday. Futures opened flat.Australian 10-year yields ticked up to 0.87%.CommoditiesWest Texas Intermediate crude fell 1.1% to $32.90 a barrel.Gold dipped 0.5% to $1,726.95 an ounce.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Consumer confidence, new home sales: What to know in the week ahead
    Yahoo Finance

    Consumer confidence, new home sales: What to know in the week ahead

    This week is a shortened trading week with major markets closed Monday in observance of the Memorial Day holiday. Investor focus will remain on the coronavirus and its impact on the U.S. economy as most states across the country continued their phased reopening plans.

  • If You Had Bought GDI Property Group (ASX:GDI) Stock A Year Ago, You'd Be Sitting On A 23% Loss, Today
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    INSIGHT-More patients than beds in Mumbai as India faces surge in virus cases

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  • China's Great Wall expects mild domestic auto sales growth in second half
    Reuters

    China's Great Wall expects mild domestic auto sales growth in second half

    Great Wall Motor <601633.SS> expects China's overall auto sales in the second half this year to return to the same level as last year, its president said, as the world's biggest auto market recovers from a coronavirus-driven low. Facing a sales downturn and fierce competition, China's top pickup truck maker "will pursue reasonable sales and higher market share, in order to better guarantee the profitability and brand image", Wang Fengying, president of Great Wall, said in a statement. Great Wall will roll out electric models as well as gasoline-electric hybrid and plug-in hybrid models, Wang said, adding the Baoding-based company plans to start selling hydrogen fuel-cell passenger cars in 2023.

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  • Dow Jones Futures: Breakouts Slowing In Coronavirus Stock Market Rally, But These Five Titans Are Near Buy Points
    Investor's Business Daily

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    Trudeau asks bank CEOs for views on economy, COVID-19 relief- Globe and Mail

    Canadian Prime Minister Justin Trudeau has spoken to the heads of the country's six big banks to get their views on the state of the economy and the COVID-19 relief efforts, the Globe and Mail reported on Sunday, citing multiple sources. This was Trudeau's first one-on-one dialogue with the CEOs since the beginning of the coronavirus outbreak, according to the report, which added that the calls took place around the Victoria Day long weekend. The topics covered included adjustments required in relief efforts rolled out by the government, need for further support and pressures faced by clients of the banks, the report said, adding that the talks were 'high-level check-ins rather than deep policy discussions'.

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    Motley Fool

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