European chipmakers Infineon Technologies, AMS and STMicroelectronics fell sharply on Monday amid worries the Huawei Technologies suppliers may suspend shipments to the Chinese firm due to a U.S. crackdown.
China’s official Xinhua news agency condemned the spreading of “false news” on Monday after some websites published a year-old alert announcing a ceasefire in the Sino-U.S. trade dispute.
Asian shares clawed back some of last week’s losses as investors cheered apparent election wins for conservative incumbents in Australia and India, while broader global trade worries eased after Washington offered to lift some tariffs in North America.
Cases of European firms forced to transfer technology in China are increasing despite Beijing saying the problem does not exist, a European business lobby said, adding that its outlook on the country’s regulatory environment is “bleak”.
Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog, the New York Times reported on Sunday.
Deutsche Bank denied a report that said some of its executives rejected the advice of the bank’s own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, being filed with the government.
The fresh escalation in the long-running Sino-U.S. trade dispute prompted a sharp selloff in Chinese markets last week with the yuan and banking and tech stocks hit particularly hard though some sectors, like farming, managed to outperform.
Huawei Chief Financial Officer Meng Wanzhou described her house arrest in Vancouver as “restricted to a limited space” even as she spent her past six months in a six-bedroom, multi-million dollar Canadian home.
Shares of smaller publicly listed U.S. companies have fallen more on recent U.S.-China trade tensions than larger corporations and could face an even rougher road as the year wears on unless the prospects for economic growth improve.
Asian shares steadied on Monday as investors caught their breath following another week of escalating U.S.-China trade tensions, with sentiment turning brighter after the United States said it would lift tariffs in North America.
U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a “50-50” deal.
Boeing Co has won a hard-fought contest to sell wide-body aircraft to Air New Zealand Ltd, beating a challenge from Europe’s Airbus, industry sources said on Monday.
U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any agreement with China cannot be a “50-50” deal.
Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.
U.S. Trade Representative Robert Lighthizer will visit Japan on May 24 to meet with Economy Minister Toshimitsu Motegi to accelerate trade talks ahead of a summit meeting scheduled a few days later, two sources with direct knowledge of the plan said on Monday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
