
Global stocks bounce as investors shrug off approval of Chinas new draconian law on Hong Kong, and look to galactic coronavirus stimulus
Franki Chan / Associated Press
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Most global stocks rose on Thursday, shrugging off the approval of a new security law in Hong Kong, which many fear will allow Beijing to rule the semi-autonomous region with greater control, and could threaten its status as a global financial center.
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Instead, investors continued to focus on the easing of coronavirus lockdowns around the world, and in Europe, markets were buoyed by Wednesday’s proposal of a 750 billion euro pandemic stimulus package.
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Hong Kong’s Hang Seng Index was one of the only major indexes to fall on the day, losing around 0.7% by the end of trading.
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In Europe stocks saw small gains by late morning, while in Japan, the Nikkei bounced more than 2% after the passage of a new $1.1 trillion stimulus package.
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One analyst described the latest stimulus packages from Europe and Asia as being “galactic” in scale.
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