(06 DECEMBER 2018)DAILY MARKET BRIEF 2:Huawei CFO arrested: equities tank

(06 DECEMBER 2018)DAILY MARKET BRIEF 2:Huawei CFO arrested: equities tank

7 December 2018, 09:05
Jiming Huang
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Asian shares continue down, after Canadian authorities confirmed the arrest of Huawei Technologies’ CFO Wanzhou Meng on charges of violating the USA’s sanctions on exports to Iran. Japan’s Nikkei 225 dropped by 1.91% while Hong Kong’s Hang Seng and China’s CSI 300 declined 2.47% and 2.16%, their most in two weeks. European shares are also dropping, as the UK Parliament mutinies over the Prime Minister May’s Brexit plan. The Euro Stoxx 600 has hit a 2-year low while Germany’s DAX and France’s CAC 40 slid 1.90% and 1.85%. Trade discussions between the USA and China officially started this week and are expected to continue for the coming 3 months. Investors are worried, especially about semiconductor manufacturers being hard hit.

By Vincent Mivelaz


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