Asian shares fall after US files Huawei charges

Published: January 29, 2019 12:10:07 | Updated: January 31, 2019 12:02:38


File Photo (Collected)

Asian shares fell on Tuesday after the US Justice Department unsealed criminal charges against China’s Huawei, its subsidiaries and a top executive ahead of trade talks.

Japan’s Nikkei 225 index tumbled 1.0 per cent to 20,448.47 and the Kospi in South Korea shed 0.4 per cent to 2,169.42. Hong Kong’s Hang Seng index was 0.8 per cent lower at 27,370.58.

The Shanghai Composite index fell 1.0 per cent to 2,572.39. Australia’s S&P ASX 200, reopening after a holiday, eased 0.6 per cent to 5,870.80. Stocks fell in Taiwan and Singapore but rose in Indonesia.

US stocks fell Monday on signs that slowing Chinese growth was affecting corporate America. The S&P 500 index lost 0.8 per cent to 2,643.85.

The Dow Jones Industrial Average was down 0.8 per cent at 24,528.22 and the Nasdaq composite gave up 1.1 per cent to 7,085.68.

The Russell 2000 index of smaller company stocks lost 0.6 per cent to 1,473.54, reports AP.

Benchmark US crude added 20 cents to $52.19 per barrel in electronic trading on the New York Mercantile Exchange. It dropped $1.70 to settle at $51.99 per barrel on Monday.

Brent crude, used to price international oils, rose 15 cents to $59.96 per barrel. It lost $1.78 to $59.81 per barrel in London.

The dollar was trading at 109.12 yen down from 109.35 yen late Monday. The euro strengthened to $1.1430 from $1.1428.

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