Global Markets Take a Hit as Trade Tensions Escalate and HKScan Completes Name Change

Asian markets experienced a decline on Friday, particularly in China where investors are concerned about escalating trade tensions between the US and China. Meanwhile, food company HKScan announced that it had completed its name change to HKFoods, with the new trading code on the Nasdaq Helsinki trading system set to be HKFOODS starting May 27, 2024.

The OMXH general index of the Helsinki Stock Exchange opened on Friday with a decrease of 0.6 percent, standing at around 10,281.7 points. Among the most traded shares, Fortum was down 1.9 percent and Nordea down 0.7 percent. Shortly after the opening, most of the most traded stocks were moving in a downward direction.

In other news, Italian company Benetton’s founder Luciano Benetton is stepping away from corporate management in a dispute. Rapper Nicki Minaj was arrested and released at Schiphol for possession of soft drugs, leading to the cancellation of her concert in Manchester. Additionally, discussions among economists have shifted from reactivation to debates between a U-shaped or V-shaped recovery