Premarket: Hong Kong unrest worries curb global rally GlobeInvestor
This translation has been automatically generated and has not been verified for accuracy.Unrest in Hong Kong over Beijing’s proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the re-opening of the world economy.
Oil prices fell amid U.S.-China tensions and concern over how quickly fuel demand will recover as lockdowns ease. Brent crude futures dropped 1.5%, to $35.62. U.S. West Texas Intermediate crude futures were down 1.6%, at $33.79 a barrel. “You have two elements going in the right direction. You have the end of lockdown going quite well and PMI data showing the ability of economies to recover in the second half of the year is still there,” said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners.
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