Global stocks rebound on relief at Trump’s response to China over Hong KongbusinessUpdated: May 30, 2020 02:37 ISTA gauge of global equities rebounded and crude oil rose on Friday after US President Donald Trump ordered an end to Washington’s special treatment of Hong Kong, a move investors welcomed as unlikely to jeopardize a trade accord with China. US stocks pared losses after Trump’s remarks and oil gained on hopes the dispute will not curb the economy’s nascent recovery from the coronavirus pandemic. MAY RALLYMassive amounts of government stimulus helped lift global stocks in May, offsetting reams of grim economic data. The dollar index fell 0.178%against a basket of currencies. Both contracts had their biggest monthly gains in years, supported by production cuts and optimism about demand recovery led by China.

Source: Hindustan Times May 29, 2020 21:08 UTC