Global Markets: Hong Kong to delay election one year

By MarketsFarm

WINNIPEG, July 31 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Hong Kong’s upcoming September Legislative Council election will be delayed for a year, after current chief executive Carrie Lam invoked emergency measures amid concerns over the COVID-19 pandemic. The delay is seen as a major setback for the pro-democracy movement.

– Canada’s economy grew by 4.5 per cent in May after two months of declines, as pandemic restrictions eased across the country, according to the latest gross domestic product data from Statistics Canada. Preliminary data points to 5.0 per cent growth in June.

– Apple Inc. posted record third quarter results with revenues of US$59.7 billion up 11 per cent on the year and well above analyst estimates. The solid performance came despite the closure of many stores due to the pandemic. The company also announced a four-for-one stock split and the company’s stock price was up sharply in early trading activity.

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