China's ForeignMin reiterates threat to retaliate against US bill on Hong Kong

Dhwani Mehta FXStreet

China’s Foreign Ministry came out with a statement on Wednesday, reiterating the threat to retaliate against the US bill on Hong Kong.

Additional Quotes:

Strongly condemns US senate measures on Hong Kong, resolutely opposes the action.

US should stop interfering in Hong Kong and China’s affairs.

US should stop the latest bills on Hong Kong from becoming law.

China must take necessary measures to safeguard its sovereignty, security.

Last hour, the Hong Kong government also said the US bill is unnecessary, ungrounded and that foreign governments should not interfere.

This comes after the US approved the Hong Kong human rights bill and sent it to the House of Representatives.

In the context of impending US-China trade talks, the US interference in the Hong Kong civil unrest matter is not going down too well and could negatively affect the trade deal prospects.

Therefore, the risk sentiment is seen taking a hit across the financial markets in Asia, with S&P 500 futures down -0.30%, Treasury yields losing nearly 2% and USD/JPY testing lows near 108.35 region.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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