US Secretary of State Mike Pompeo continues to rant on China’s national security legislation for Hong Kong, now noting, “with the ink barely dry on the draconian National Security Law, HK authorities are now removing books from libraries, banning political slogans, and requiring censorship in schools. The US condemns these Orwellian assaults on the rights and freedoms of the Hong Kong people.”
On Monday, Hanscom Smith, US consul general to Hong Kong and Macau told Reuters, “using the national security law to erode fundamental freedoms and to create an atmosphere of coercion and self-censorship is a tragedy for Hong Kong,”
“Hong Kong has been successful precisely because of its openness and we'll do everything we can to maintain that,” Smith added.
Market reaction
The US-China tussle doesn’t seem an end while markets are shrugging it off along with the COVID concerns, as the narrative on the economic recovery continues to play out and boost the risk sentiment.
The US dollar trades on the back foot across the board amid steep gains in the Chinese equities, with the USD index keeping its range around 96.70.
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