Economic news

Asian indices react varied to U.S. veto on Huawei technologies

Asian stock markets were mixed on Thursday after U.S. President Donald Trump signed a decree outlawing the supply of telecommunications equipment from countries that pose a threat to the country's security. The measures clearly target Huawei Technologies.

asian stocks mixed 1605

The statement did not mention specific countries or companies, but it was dictated by months of pressure on the world's largest supplier of network equipment, Huawei.

The decision of the White House put pressure on the shares of the Chinese corporation ZTE Corp, the value of which fell by 4.82 percent in Hong Kong.

The broadest MSCI’s composite index of the Asia-Pacific region outside Japan fell by 0.2 percent, and was close to its lowest level since the end of January 2019.

  • The Nikkei in Tokyo lost 0.59 percent to 21,062.98;

  • Hong Kong's Hang Seng rose 0.13 percent to 28,306.05;

  • China’s Shanghai Composite was up by 0.58 percent to 2,955.71;

  • South Korea's Kospi collapsed by 1.20 percent to 2,067.69;

  • Taiwan’s Taiex slipped by 0.82 percent to 10,474.61

  • FTSE Straits Times in Singapore gained 0.22 percent to 3,228.10;

  • Indonesia’s JSX Composite sagged by 1.49 percent to 5,980.89;

  • Australia’s ASX 200 rose 0.69 percent.

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