STOCKSTOWATCHTODAY BLOG Global stocks edged higher on Monday amid positive signs on the economic recovery and a flurry of deal news. The Nikkei 225 rallied 2.2% in Tokyo and the Shanghai Compositerose 1.
Asian shares were mixed on Monday as investors eyeballed surging coronavirus cases in the region. U.S. Secretary of State Mike Pompeo’s weekend comments that President Donald Trump plans to take action on a what he sees as a broad array of national security risks presented by software connected to the Chinese Communist Party adding to market jitters. Pompeo’s remarks followed reports that Microsoft (MSFT) is in advanced talks to buy the U.S. operations of TikTok, which is owned by the Chinese company ByteDance and is seen as a source of national security and censorship concerns by the Trump administration.
Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record.