Weekly

There are many problems arising from the competition between China and the United States for the world's largest economy. It is hard to say how the situation will develop, but obviously yesterday, Chinese stocks became the leader, leading the global stock market to rise.

Thanks to the strong economic data released by the United States last week, and the expectation that China will effectively control the epidemic and the economy will return to the right track, the mainland stock market has soared, and the Shanghai stock market has reached a new high of two and a half years, closing at 3,333 points.

Driven by the mainland stock market, the Hong Kong stock market is also hot. The Hang Seng Index broke through 26,000 points and closed at 26,339 points, up nearly 1,000 points. Other Asian stock markets generally closed high, with an increase ranging from 1.2% to 1.8%.

European stock markets also performed well, with the stock markets in Britain, France and Germany rising by 1.7% to 1.8% respectively. U.S. stocks also undertook the upswing of Asian and European stock markets, with Dow Jones index rising 460 points to close.

In terms of data, the European and American data released yesterday also performed well. The PMI of the UK construction industry rebounded significantly from 28.9 in May to 55.3 in June, the highest since July 2018.

Return to the expansion level above 50. In June, the US ISM non-manufacturing index rose sharply by 11.7 points month by month to a four-month high of 57.1 points, which was higher than the expected 50.2 points and the highest level since February.

It reflects that the service industry activities have almost returned to the level before the outbreak of new pneumonia. Back to the COVID-19 outbreak, the virus is still raging all over the world, and the cumulative number of people infected with novel coronavirus in the world has exceeded 11 million.

At least 530,000 people died from new viruses. In the United States alone, more than 2.85 million people have been infected with novel coronavirus and nearly 130,000 people have died. Drugs for novel coronavirus are still in the research and development stage.

In addition, clinical trials take time, and experts point out that they will not have the opportunity to launch the market until the end of the year. The new pneumonia epidemic and the implementation of Hong Kong's National Security Act have led to the continuous tension between the United States and China. Liberation warships and American aircraft carriers,

At the same time, they carried out military exercises in the South China Sea with live ammunition. If the gun goes off accidentally, the consequences will be disastrous. As for the political attitude, of course, the two countries expressed their respective opinions, and China accused the United States of demonstrating force and hegemony;

The United States stated that it is only to ensure that all countries can sail freely in accordance with international law and to promote prosperity and peace for the Indo-Pacific region. Crude oil futures performance deviated from favorable data yesterday and fell.

The U.S. economic data has performed well, and it is also reported that Saudi Arabian National Oil Company has raised the official selling price of crude oil, which will increase the official selling price of crude oil to Asian customers by one dollar per barrel.

It will also increase the official selling price of European and American customers, but the price has not been announced. However, these two good news eventually lost to the negative impact of the newly confirmed cases of new pneumonia in the United States; New york oil futures closed at $40.63 a barrel, down 2 cents.

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