China’s Foreign Ministry was out with a statement on ByteDance’s intent to file a lawsuit against the Trump administration and said:
- China supports relevant companies in taking up legal weapons to safeguard their rights and interests.
- Chinese accuses some US politicians of economic bullying.
- US and China can get through hard times by cooperating.
The comments pointed to the possibility of a further escalation in tensions between the world’s two largest economies, albeit did little to dent the mood of the upbeat market. In fact, the S&P 500 futures held on the daily gains of around 0.35% amid the latest optimism over a potential treatment for the highly contagious coronavirus disease.
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