Hong Kong tensions unnerve world stocks

Irish Times | May 22, 2020 at 6:25 PM
  • European shares closed unchanged on Friday although rising US-China tensions hit Asia-exposed banks and luxury stocks, while hopes of a global recovery kept weekly gains intact for the main indexes.
  • Cyclical sectors such as miners, travel & leisure and automakers have outperformed this week, helping the Stoxx 600 post its best week since April 10th on hopes that easing of coronavirus-driven lockdowns will spur a swifter economic recovery.
  • Rising tensions between the world’s two largest economies have stalled a recovery in equity markets in recent weeks.