Stocks gain even as China contagion fears rise

Video Credit: Reuters Studio
Published on June 17, 2020 - Duration: 01:15s

Stocks gain even as China contagion fears rise

Most Asian and European stock indexes rose Wednesday, even after signs of a rise in new coronavirus cases in China.

Julian Satterthwaite reports.


Stocks gain even as China contagion fears rise

Around half of all inbound flights to Beijing were cancelled Wednesday.

That as the number of new coronavirus cases in the city ticked up again.

The news has some residents heading back to their hometowns in case there’s a new lockdown.

But it wasn’t enough to chill global stock markets.

Most Asian indexes gained Wednesday, with Hong Kong closing half a percent higher.

Japan’s Nikkei the only loser in the region.

Data showing a 28% plunge in exports one big negative there.

The wider gains carried over into the European open though, with the regional Stoxx index up about point-7 percent in early trade.

Financials were among the top gainers.

HSBC rose 1% after it said it would revive cost-cutting plans that were shelved during the health crisis.

Deutsche Bank gained over 1% after it said the fallout from the crisis could accelerate consolidation in the sector.

Some robust earnings also helped the mood.

Shares in online retailer Boohoo surged 9% on news its first-quarter revenue jumped by almost a half.

Shares in DIY store operator Kingfisher rose 5% percent after it said sales were up by a fifth so far in the second quarter.

You are here

💡 One News Page Knowledge: Other News Mentions

Hong Kong

Special administrative region of China
"We were supposed to have rule of law. But now it's rule by law, or even rule by fear," pro-democracy legislator Tanya Chan told CBS News.
Credit: CBS News - Published 8 hours ago

China announced sanctions on 11 Americans for their critical views of Hong Kong. Six Republican lawmakers are on the list, including Senators Marco Rubio and Ted..
Credit: CBS News - Published 16 hours ago

Related videos from verified sources

Dow Leaps 300 Points 00:32
Video credit: Wochit Business - Published 3 days ago 

Stocks Open Lower Friday Amid Escalating U.S.-China Tensions 00:49
Video credit: The Street - Published 3 weeks ago 

Covid fears gives rise to apathy: Family forced to store body in freezer | Oneindia News 02:38
Video credit: Oneindia - Published on July 2, 2020 

You might like