Senate Leader: Any Violent Crackdown in Hong Kong Would Be 'Completely Unacceptable'

Cheryl Sanders
August 13, 2019

Further, President Trump said Friday that it would be "fine" if US-China negotiations planned for next month were called off, adding that he's "not ready to make a deal". Tokyo was closed for a holiday.

China stocks climbed on Monday, led by gains in consumer and securities shares, after Beijing showed support for its capital markets by relaxing margin financing amid lingering trade worries.

Republican US President Donald Trump, who has been seeking a major deal to correct trade imbalances with China, has drawn some criticism at home after he described the Hong Kong protests as "riots" this month and said they were a matter for China and Hong Kong to deal with as the territory was part of China. But they worry President Donald Trump's impending September 1 tariff hike on more Chinese imports will scuttle talks aimed at ending their trade war. "Headwinds remain strong as a deal in the short term between the USA and China is a long shot".

"The longer the trade war drags on, the more likely it would weigh (on) the global outlook and crimp the world economy, a negative for market morale", said Joe Manimbo, senior market analyst at Western Union Business Solutions. Seoul's Kospi gained 0.2% to 1,942.99 and Sydney's S&P-ASX 200 was 6 points higher at 6,590.30.

As many people in Hong Kong have pointed out, the ordinance amendment issues have changed in their essence, and now bear the features of a "color revolution", said Zhang Xiaoming, director of the Hong Kong and Macao Affairs Office of the State Council last Wednesday.

Those comments helped to drive a late sell-off in a volatile session that saw the Dow Jones Industrial Average fall 0.34%, the S&P 500 lose 0.66% and the Nasdaq Composite drop 1%.

The euro rose 0.11% to $1.121, while the dollar index fell 0.07%.

The three biggest H-shares percentage decliners were China Resources Beer Holdings Co Ltd, which has fallen 2.04%, PetroChina Co Ltd, which has lost 1.0% and Hengan International Group Company Ltd, down by 0.9%.

MSCI's gauge of stock performance in 47 countries fell 0.85%, driven lower by tumbling USA stocks.

ENERGY: Benchmark U.S. crude lost 59 cents per barrel to $53.89 in electronic trading on the New York Mercantile Exchange. Brent crude, used to price global oils, shed 39 cents to $58.14 per barrel in London.

The earlier gains had been aided by Chinese shares rallying from the previous week's losses.

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