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Asian stocks mixed after Wall Street fall on Huawei anxiety


Added 05-21-19 03:04:02am EST - “Asian stocks were mixed Tuesday after anxiety over U.S. restrictions on sales to Chinese tech giant Huawei pulled Wall Street lower.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Asian stocks mixed after Wall Street fall on Huawei anxiety”. Below is an excerpt from the article.

A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Tuesday, May 21, 2019. Asian stocks were mixed Tuesday after anxiety over U.S. restrictions on sales to Chinese tech giant Huawei pulled Wall Street lower. (AP Photo/Vincent Yu)

Asian stocks were mixed Tuesday after anxiety over U.S. restrictions on sales to Chinese tech giant Huawei pulled Wall Street lower.

Anxiety over U.S.-Chinese trade tension was reignited by Washington's decision to require export licenses for technology sales to Huawei Technologies Ltd. American officials say the biggest global maker of network gear for phone carriers is a security risk, which Huawei denies.

That followed new tariff hikes announced by both sides in a broader battle over Beijing's technology ambitions and trade surplus.

Both sides are "seemingly digging in for a battle of attrition," said Mizuho Bank in a report. It said investors are trying to figure out the duration, the impact on profits and the "toxic atmosphere for American sales in China."

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