{"id":40846,"date":"2020-05-22T18:01:35","date_gmt":"2020-05-22T08:01:35","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=40846"},"modified":"2020-05-22T18:01:35","modified_gmt":"2020-05-22T08:01:35","slug":"friday-22nd-may-hong-kong-plummets-as-china-talks-of-new-restrictions","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-22nd-may-hong-kong-plummets-as-china-talks-of-new-restrictions\/","title":{"rendered":"Friday 22nd May: Hong Kong plummets as China talks of new restrictions"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.80%, Shanghai Composite down 1.89%, Hang Seng down 5.69%, ASX down 0.96%<\/li>\n<li>Commodities : Gold at $1736.75 (+0.86%), Silver at $17.42 (+0.33%), Brent Oil at $34.30 (-4.88%), WTI Oil at $31.86 (-6.07%)<\/li>\n<li>Rates : US 10-year yield at 0.636, UK 10-year yield at 0.139, Germany 10-year yield at -0.511<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(GBP) Retail Sales m\/m -18.10% vs -15.80% expected<\/li>\n<li>(NZD) Retail Sales q\/q -0.70% vs -1.50% expected<\/li>\n<li>(USD) Flash Manufacturing PMI 39.8 vs 39.3 expected<\/li>\n<li>(USD) Unemployment Claims 2438K vs 2400K expected<\/li>\n<li>(USD) Philly Fed Manufacturing Index -43.1 vs -40 expected<\/li>\n<li>(GBP) Flash Services PMI 27.8 vs 24.1 expected<\/li>\n<li>(GBP) Flash Manufacturing PMI 40.6 vs 35.1 expected<\/li>\n<li>China unconcerned by US threat over HK security legislation: experts<\/li>\n<li>BOJ Offers More Lending, No Extra Easing at Emergency Meet<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets, led by Hong Kong, are in negative territory on Friday following the overnight losses on Wall Street and on worries about rising U.S.-China tensions.<\/p>\n<p>China said it plans to introduce new national security legislation in Hong Kong, raising fears of fresh protests over the city&#8217;s autonomy. In addition, China announced it will not set a GDP target for 2020, due to the uncertainty regarding the COVID-19 pandemic.<\/p>\n<p>Mainland Chinese stocks declined, with the Shanghai composite down more than 1.8% while the Shenzhen component shed 2.7%. The Nikkei 225 in Japan closed 0.8% lower while the Topix index ended its trading day 0.9% lower. Hong Kong\u2019s Hang Seng index led losses among the region\u2019s major markets as it plummeted 5.7%, as of its final hour of trading.<\/p>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.593 after seeing a decline this week from levels above 100. The yen brushed off the Bank of Japan&#8217;s new lending scheme to channel more money to small businesses, which mimics the U.S. Federal Reserve&#8217;s &#8220;Main Street&#8221; programme.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>11:30 AM GMT &#8211; (EUR) ECB Monetary Policy Meeting Accounts<\/li>\n<li>12:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.80%, Shanghai Composite down 1.89%, Hang Seng down 5.69%, ASX down 0.96% Commodities : Gold at $1736.75 (+0.86%), Silver at $17.42 (+0.33%), Brent Oil at $34.30 (-4.88%), WTI Oil at $31.86 (-6.07%) Rates : US 10-year yield at 0.636, UK 10-year yield at 0.139, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-22nd-may-hong-kong-plummets-as-china-talks-of-new-restrictions\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 22nd May: Hong Kong plummets as China talks of new restrictions<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":40847,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-40846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=40846"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40846\/revisions"}],"predecessor-version":[{"id":40848,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/40846\/revisions\/40848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/40847"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=40846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=40846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=40846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}