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Hong Kong shares surged as investors ignored US-China tensions



Trump blasts China over Hong Kong national security law

Hong Kong Hang Seng Index (HSI) up more than 3.3% in morning trade. This is the first opportunity for investors there to react to US President Donald Trump’s announcement last week that Washington would “begin the process of removing policy exceptions that give Hong Kong different and special treatment” from mainland China.
Trump’s response marks an increase in tension between the United States and China – The president criticized Beijing for agreeing to a national security law that fundamentally undermines Hong Kong’s autonomy.
Experts have shown that Trump’s actions are likely to have little impact because of Hong Kong don’t export a lot of goods to the US.

Trump’s comments are “long on criticism of China but lack of action,” Stephen Innes, head of global market strategy at AxiCorp, said in a research note Monday.

Other major indexes in Asia were also higher on Monday. South Korea Kospi (KOSPI) up 1.5%, Japan Nikkei 225 (N225) up 1.2% and China Shanghai Composite Index (SHCOMP) up 1.7%.

“Reopening optimism is the highest,” Innes wrote.

New data from China shows factories there are recovering from the pandemic.

Manufacturing activity in the country unexpectedly rose last month, according to a closely watched personal survey. The media group Caixin said on Monday that China’s manufacturing purchasing managers’ index rose to 50.7 in May, up from 49.4 in April. It also beat 49.6 surveyed by analysts Refinitiv had guessed. Figures above the 50 point level indicate growth.

“Manufacturing production is recovering faster than demand because the domestic economy is recovering from an epidemic,” wrote Wang Zhe, senior economist at Caixin Insight Group, in a statement accompanying Caixin’s data. Wang added, however, that exports remained slow because the whole world continued to wrestle with the virus.

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Over the weekend, the Chinese government too reports that its official manufacturing PMI grew in May. The official non-manufacturing PMI survey, which measures the service sector, also indicates expansion – another suggestion for recovering domestic economic activity, according to Jeffrey Halley, senior market analyst for Asia Pacific in Oanda.

However, South Korea and Taiwan experienced a decline in production in May. And while output in the Philippines, Vietnam, Malaysia and Thailand increased when locking was reduced, PMI for Southeast Asian countries still showed contraction rather than growth, according to Alex Holmes, Asian economist for Capital Economics.

“The bigger picture remains the same – the manufacturing sector in the region is in a deep recession,” Holmes wrote in a note Monday. “Output may still be far below normal levels for the coming months because domestic and global demand remains very depressed.”

US stock futures muted. Dow (INDU) futures rose 0.1%, meanwhile Nasdaq (COMP) and S&P 500 (SPX) mostly flat futures.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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