Sunday 16 December 2018
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.theguardian - 10 days ago

Markets rebound after Huawei arrest sparked biggest sell-off since Brexit vote – business live

Shares are recovering in Asia and Europe after Thursday’s rout, but investors are still nervous following the arrest of Huawei’s CFO 8.01am GMT China’s media are usually a good indication of how leaders in Beijing see an issue.And today, they’ve savaged the US over the arrest of Meng Wanzhou, calling it a ‘despicable’ attempt to undermine Chinese enterprise.State-run China Daily said the arrest of Huawei’s chief financial officer appeared to be part of US efforts to contain the company, which is the world’s largest telecoms equipment provider, as well as its second-largest mobile phone maker.“One thing that is undoubtedly true and proven is the US is trying to do whatever it can to contain Huawei’s expansion in the world simply because the company is the point man for China’s competitive technology companies,” the editorial said. 7.55am GMT Asia-Pacific stock markets recovered after the Chinese government announced it would ‘immediately’ enforce measures agreed with the US under their trade war truce.But there’s still anxiety on the trading floors, as Associated Press explains:Asian shares are moderately higher as worries over U.S.-China trade friction were calmed by conciliatory comments from Beijing.Japan’s benchmark Nikkei 225 added 0.8 percent to 21,678.68, and Australia’s S P/ASX 200 gained 0.4 percent to 5,681.50. South Korea’s Kospi rose 0.3 percent to 2,075.76. Hong Kong’s Hang Seng edged 0.1 percent lower to 26,133.53, while the Shanghai Composite was flat at 2,605.89. Shares also rose in India, Indonesia and Taiwan. Continue reading...

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