Asian shares skid after arrest of Huawei CFO

Published: December 06, 2018 12:08:57 | Updated: December 22, 2018 11:37:38

File Photo (Collected)

Asian stock prices skidded Thursday following the arrest of a senior official at Chinese telecoms equipment maker Huawei that could derail progress in China-US trade talks.

Hong Kong’s Hang Seng index tumbled 2.6 per cent to 26,117.28 and Japan’s benchmark Nikkei 225 fell 2.1 per cent to 21,435.96. Australia’s S&P/ASX 200 lost 0.6 per cent to 5,635.60.

South Korea’s Kospi sank 1.3 per cent to 2,072.79. The Shanghai Composite index dropped 1.3 per cent to 2,615.82. Shares also fell in Taiwan and all other regional markets, reports AP.

Benchmark US crude lost 21 cents to $52.68 a barrel. It fell 0.7 per cent to $52.89 per barrel in New York. Brent crude, used to price international oils, declined 10 cents to $61.46.

The dollar slipped to 112.81 yen from 113.19 yen. The euro inched up to $1.1347 from $1.1342.

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