Live Updates: COVID-19 Cases
  • World 30,490,264
    World
    Confirmed: 30,490,264
    Active: 7,369,992
    Recovered: 22,168,049
    Death: 952,223
  • USA 6,891,936
    USA
    Confirmed: 6,891,936
    Active: 2,530,289
    Recovered: 4,159,095
    Death: 202,552
  • India 5,247,627
    India
    Confirmed: 5,247,627
    Active: 1,019,663
    Recovered: 4,143,247
    Death: 84,717
  • Brazil 4,457,443
    Brazil
    Confirmed: 4,457,443
    Active: 569,330
    Recovered: 3,753,082
    Death: 135,031
  • Russia 1,091,186
    Russia
    Confirmed: 1,091,186
    Active: 170,784
    Recovered: 901,207
    Death: 19,195
  • Peru 750,098
    Peru
    Confirmed: 750,098
    Active: 124,439
    Recovered: 594,513
    Death: 31,146
  • Mexico 684,113
    Mexico
    Confirmed: 684,113
    Active: 123,518
    Recovered: 488,416
    Death: 72,179
  • South Africa 655,572
    South Africa
    Confirmed: 655,572
    Active: 54,497
    Recovered: 585,303
    Death: 15,772
  • Spain 654,637
    Spain
    Confirmed: 654,637
    Active: 624,232
    Recovered: ?
    Death: 30,405
  • Chile 442,827
    Chile
    Confirmed: 442,827
    Active: 14,647
    Recovered: 415,981
    Death: 12,199
  • Iran 416,198
    Iran
    Confirmed: 416,198
    Active: 36,741
    Recovered: 355,505
    Death: 23,952
  • France 415,481
    France
    Confirmed: 415,481
    Active: 293,546
    Recovered: 90,840
    Death: 31,095
  • UK 385,936
    UK
    Confirmed: 385,936
    Active: 344,204
    Recovered: ?
    Death: 41,732
  • Bangladesh 345,805
    Bangladesh
    Confirmed: 345,805
    Active: 88,589
    Recovered: 252,335
    Death: 4,881
  • Saudi Arabia 328,720
    Saudi Arabia
    Confirmed: 328,720
    Active: 15,938
    Recovered: 308,352
    Death: 4,430
  • Pakistan 304,386
    Pakistan
    Confirmed: 304,386
    Active: 6,295
    Recovered: 291,683
    Death: 6,408
  • Turkey 298,039
    Turkey
    Confirmed: 298,039
    Active: 26,979
    Recovered: 263,745
    Death: 7,315
  • Italy 294,932
    Italy
    Confirmed: 294,932
    Active: 42,457
    Recovered: 216,807
    Death: 35,668
  • Germany 270,653
    Germany
    Confirmed: 270,653
    Active: 19,890
    Recovered: 241,300
    Death: 9,463
  • Canada 141,268
    Canada
    Confirmed: 141,268
    Active: 8,764
    Recovered: 123,304
    Death: 9,200
  • Netherlands 90,047
    Netherlands
    Confirmed: 90,047
    Active: 83,774
    Recovered: ?
    Death: 6,273
  • China 85,255
    China
    Confirmed: 85,255
    Active: 165
    Recovered: 80,456
    Death: 4,634
  • Australia 26,861
    Australia
    Confirmed: 26,861
    Active: 2,169
    Recovered: 23,855
    Death: 837
  • S. Korea 22,783
    S. Korea
    Confirmed: 22,783
    Active: 2,635
    Recovered: 19,771
    Death: 377
  • New Zealand 1,809
    New Zealand
    Confirmed: 1,809
    Active: 70
    Recovered: 1,714
    Death: 25

Asian shares mostly higher on stimulus moves, jobs data

Author at TechGenyz Business
Asian share
A picture of peoploe taking about share market credit: @pressfoto | Freepik

Shares were mostly higher in Asia on Monday after President Donald Trump issued executive orders to provide tax relief and stopgap unemployment benefits for Americans hit by the fallout from the coronavirus pandemic.

Shares rose Monday in Sydney, Shanghai and Seoul, while markets were closed in Tokyo for a holiday.

It has been an unusually risk-friendly start to the Monday proceedings, but there is still a lot of wood to be chopped on the US stimulus deal, while August 15 trade talks loom ominously.- Stephen Innes of AxiCorp.

Stock prices fell in Hong Kong after the authorities arrested pro-democracy media tycoon Jimmy Lai on suspicion of collusion with foreign powers.

The Hang Seng index dropped 0.5% to 24,419.91.

An aide to Hong Kong media tycoon Jimmy Lai says Lai was arrested under the city’s national security law. Hong Kong police said seven people had been arrested on suspicion of violating that law. They did not reveal the names of those arrested.

The national security law came into effect June 30 and is widely seen as a means to curb dissent after anti-government protests rocked Hong Kong last year.

It has raised questions over whether and to what extent Communist Party leaders in Beijing will respect the one-party, two-systems” arrangement promised to the former British colony for a half-century after China took control of the semi-autonomous in 1997.

Elsewhere in Asia, South Korea’s Kospi jumped 0.9% to 2,371.73 and the S&P/ASX 200 in Australia surged 1.2% to 6,078.00. The Shanghai Composite index edged 0.3% higher to 3,361.91.

Markets in Japan and several other countries were closed for holidays.

China reported its consumer price index rose to 2.7% in July from 2.5% in June as flooding disrupted farming across much of the country. But producer prices and core inflation, which excludes food and energy prices, fell to a ten-year low of 0.5%, reflecting continued weakness amid the pandemic.

Sentiment on Wall Street was lifted Friday by positive US jobs data, with US employers adding nearly 1.8 million jobs last month, about 185,000 more than economists had forecast.

But uncertainty overhangs the markets, with China-US trade talks planned for Friday and the total number of confirmed coronavirus cases surpassing 5 million.

Trump issued his latest set of executive orders as Republicans and Democrats in Congress reportedly remained far apart late last week on stimulus legislation.

The move raised questions over whether it would give Americans the economic lifeline he claims and appears certain to face legal challenges. Democrats called it a pre-election ploy that would burden cash-strapped states, which are expected to pick up more of the tab for unemployment benefits.

Trump issued the orders after congressional talks broke down. Democrats initially sought a 3.4 trillion package, but said they lowered their demand to 2 trillion. Republicans had proposed a 1 trillion plan.

Both the White House and congressional Democrats indicated Sunday they wanted to resume negotiations, but no talks were scheduled.

With the November 3 election approaching, the White House is nervously watching signs that the economic recovery is slowing down as the coronavirus surges.

The S&P 500 inched up 0.1% to 3,351.28 to eke out a sixth straight gain and is within 1% of its record high set in February. The Dow Jones Industrial Average added 0.2%, to 27,433.48.

Technology stocks fell on worries that China could retaliate for President Donald Trump’s latest escalation against Chinese tech companies. The Nasdaq composite dropped 0.9%, to 11,010.98 after setting a record Thursday.

In other trading, US benchmark crude oil gained 46 cents to 41.68 per barrel. On Friday, it gave up 73 cents to 41.22 per barrel.

Brent crude, the international standard for pricing, added 38 cents to 44.78 per barrel.

The US dollar slipped to 105.79 Japanese yen from 105.92 yen. The euro strengthened to 1.1798 from 1.1789.

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