US-China Tussle: Biden Administration eyes to stop Hong Kong Leader Lee from attending November APEC in US

Anil Panchal FXStreet

Early Friday morning in Asia, the Washington Post (WaPo) quotes anonymous US Officials familiar with the matter while stating the White House's (WH) decision to bar Hong Kong’s (HK) top government officials, including Chief Executive John Lee, from attending November’s Asia-Pacific Economic Cooperation (APEC) leaders’ summit in San Francisco.

The news also mentioned that the WH verdict doesn’t stop Hong Kong from attending the APEC as many senior officials aren’t on the list.

A spokesman for the Chinese Embassy in Washington, Liu Pengyu, unveiled strong opposition to such a decision by terming it as a violation of the APEC rules and the US’s break of the commitment.

Not only HK Leader Lee but Russian President Vladimir Putin is also likely to witness a barricade from the APEC gate.

Market reaction

The news fails to weigh on the market sentiment as the S&P500 Futures print mild gains by the press time. However, the AUD/USD remains pressured near 0.6700 and portrays a cautious mood.

Also read: AUD/USD drops to two-week low near 0.6700 ahead of Australia PPI, Retail Sales and Fed’s favorite inflation

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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