12/3/2019, 4:26 AM (Source: TeleTrader)
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Asian shares fall amid US-China tensions

Equities in Asia were lower on Monday following negative developments in relations between the United States and China. It was reported earlier today that US diplomats may be banned from entering the Xinjiang province as another controversial set of bills is set to emerge in the US Congress regarding alleged China's human rights violations in the region. In the US, White House advisor Kellyanne Conway expressed optimism that a phase one deal could still be reached before the end of the year, while US Commerce Secretary Wilbur Ross stated that tariffs on Chinese imports will be increased if there is no agreement by December 15.

Meanwhile, Huawei Technologies Co. Ltd.'s CEO Ren Zhengfei announced that the company will move its research division to Canada from the United States.

Japanese Nikkei 225 index declined 0.71% at 4:30 am CET. The Shanghai Composite decreased by 0.41% at 4:16 am CET and the Shenzhen Composite Index was 0.46% lower at 4:30 am CET. The Hang Seng fell 0.13% at 4:32 am CET, while the Kospi lost 0.56% at the same time. The S&P/ASX 200 in Australia dropped 2.09% at 4:32 at 4:32 am CET.

The dollar gained 0.21% compared to the yen, going for 109.1885 at 4:35 am CET.

Breaking the News / MS