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Global Stock Market Declined As Investors Fear US Prosecutor Investigation Of Huawei


Feb-2019 | Intense Research | Machinery & Tools

Reportedly, as there were fears regarding a worsening of the U.S.-China relations, it made investors scared and global stock markets dipped. The chief stocks markets in Europe were declining by about 0.5% and Chinese stocks decreased by 0.9%. The moves seem to have been driven by concerns in relation to relations amid Washington and Beijing following reports that federal investigators are inquiring Chinese smartphone titan Huawei for allegedly whipping trade secrets from the U.S. technology companies.

Jasper Lawler—Chief of Research at London Capital Group—stated, “It goes straight to the unresolved IP concerns with China, to which China is doubtful to shrug this off which is forming a risky environment.” Due to this scenario, the signs of vengeance from China could expect stocks to sink further. One of the factors of the criminal probe is an accusation that Huawei stole robotic technology that is used for analyzing smartphones from T-Mobile facility in Washington, as reported by a Wall Street Journal report. A panel of the U.S. policymakers also put forward proposals that will debar the sale of US components and chips to the Chinese giant. In last month, Huawei’s CFO was captured in a stopover in Canada on claims of breaching trade sanctions with Iran.

Considering all the facts, in recent time the Asian stocks were mixed, though the mass of chief indexes lost on the grounds about Huawei. China’s Shenzhen Composite had a loss of 0.9%, while, standard Shanghai Composite declined by 0.4%. In Japan, Nikkei declined by 0.2%, whereas, Hong Kong’s Hang Seng dipped 0.5% down. On the other hand, stocks in New Zealand, South Korea, and Australia ended trading with small profits. Overall, the technology industry and its shareholders are experiencing roller and coaster due to Huawei’s bad time.

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