Asian shares waver, Hong Kong tensions spoil festive mood after upbeat US data | Malay Mail

Thursday, 28 Nov 2019 09:15 AM MYT

US President Donald Trump yesterday signed into law congressional legislation backing pro-democracy protesters in Hong Kong despite angry objections from Beijing. Wall Street indexes hit fresh record highs overnight, buoyed by trade deal hopes and data showing US economic growth picked up slightly in the third quarter, rather than slowing as first reported.

“Concerns the US economy may be turning down, to the point where the Fed might have to resume policy easing next year, have been somewhat assuaged,” said Ray Attrill, head of FX strategy at National Australia Bank. “So relief all round.”The US dollar and trade-exposed currencies were spurned and safe-havens such as the Japanese yen sought after Trump signed the Hong Kong bills into law.

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