Global shares edged up on Monday as investors weighed risks from rising coronavirus cases against evidence of a recovery in industrial activity in China and Europe.
U.S. Secretary of State Mike Pompeo’s weekend comments that President Donald Trump plans to take action on a what he sees as a broad array of national security risks presented by software connected to the Chinese Communist Party caused market jitters in Asia.
Pompeo’s remarks followed reports that Microsoft is in advanced talks to buy the U.S. Operations of TikTok, which is owned by the Chinese company ByteDance and is seen as a source of national security and censorship concerns by the Trump administration.
Market sentiment improved in European trading after so-called PMI surveys of industry showed activity in the sector picked up markedly in July as lockdowns continued to ease.