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AFP
London
Stock markets in Europe and Tokyo rebounded on Monday, helped by a recovery in manufacturing sectors, with investors scooping up bargains in coronavirus-driven trading.
London’s benchmark FTSE 100 index was up 1.1 percent in early afternoon deals.
In the Eurozone, Frankfurt surged 2.2 percent and Paris won 1.2 percent.
Japan’s Nikkei 225 closed up more than two percent, helped by data showing the country’s economy contracted less than first thought in January-March.
Shanghai put on 1.8 percent following a forecast-beating reading on factory activity from Caixin, days after a strong official report showed improvement in the manufacturing sector.
A spike in coronavirus infections has forced fresh lockdowns and sparked worries about the impact on the world economy.
With COVID-19 showing no sign of easing globally, governments are moving to redeploy containment measures.
The new wave of infections has fanned fears that a nascent economic recovery will be knocked off track.
“COVID-19 either remains rampant or is making worrying localised comebacks across the world,” said Jeffrey Halley at OANDA.
“Although not priced into financial markets yet, it remains the critical risk factor to global recovery. Particularly if key economies that had previously controlled COVID-19 are forced back into large-scale lockdowns again,” Halley said.
Singapore, Mumbai and Taipei were each off more than one percent.
Virus concerns and a weak dollar caused by a massive programme of US monetary easing helped haven gold to a new record in Asian deals Monday, topping out at $1,990.84 an ounce.
Adding to the unease on trading floors was Secretary of State Mike Pompeo’s warning that the White House will unveil measures against “a broad array” of Chinese-owned software.
He said TikTok and other Chinese software companies operating in the US, such as WeChat, feed personal data on American citizens directly to the Chinese Communist Party.
The move would add to a long list of issues that have seen the economic superpowers butt heads -- including Hong Kong, Huawei and the coronavirus -- and fan concerns about a possible renewal of their trade war.
London
Stock markets in Europe and Tokyo rebounded on Monday, helped by a recovery in manufacturing sectors, with investors scooping up bargains in coronavirus-driven trading.
London’s benchmark FTSE 100 index was up 1.1 percent in early afternoon deals.
In the Eurozone, Frankfurt surged 2.2 percent and Paris won 1.2 percent.
Japan’s Nikkei 225 closed up more than two percent, helped by data showing the country’s economy contracted less than first thought in January-March.
Shanghai put on 1.8 percent following a forecast-beating reading on factory activity from Caixin, days after a strong official report showed improvement in the manufacturing sector.
A spike in coronavirus infections has forced fresh lockdowns and sparked worries about the impact on the world economy.
With COVID-19 showing no sign of easing globally, governments are moving to redeploy containment measures.
The new wave of infections has fanned fears that a nascent economic recovery will be knocked off track.
“COVID-19 either remains rampant or is making worrying localised comebacks across the world,” said Jeffrey Halley at OANDA.
“Although not priced into financial markets yet, it remains the critical risk factor to global recovery. Particularly if key economies that had previously controlled COVID-19 are forced back into large-scale lockdowns again,” Halley said.
Singapore, Mumbai and Taipei were each off more than one percent.
Virus concerns and a weak dollar caused by a massive programme of US monetary easing helped haven gold to a new record in Asian deals Monday, topping out at $1,990.84 an ounce.
Adding to the unease on trading floors was Secretary of State Mike Pompeo’s warning that the White House will unveil measures against “a broad array” of Chinese-owned software.
He said TikTok and other Chinese software companies operating in the US, such as WeChat, feed personal data on American citizens directly to the Chinese Communist Party.
The move would add to a long list of issues that have seen the economic superpowers butt heads -- including Hong Kong, Huawei and the coronavirus -- and fan concerns about a possible renewal of their trade war.
