FTSE 100 LIVE: Asian stocks plummet as US – China tensions reach boiling point

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FTSE 100 LIVE: Asian stocks plummet as US – China tensions reach boiling point

In Japan, the Nikkei 225 shed 0.47 percent in early trade, while the Topix index declined 0.17 percent. South Korea’s Kospi was flat. Over in Austr

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In Japan, the Nikkei 225 shed 0.47 percent in early trade, while the Topix index declined 0.17 percent. South Korea’s Kospi was flat. Over in Australia, the S&P/ASX 200 traded 0.7 percent lower. Overall, the MSCI Asia ex-Japan index was little changed.

Investors will watch shares of Semiconductor Manufacturing International Corporation (SMIC), China’s largest manufacturer of semiconductors.

Tensions frose after a Defense Department spokesperson said the Trump administration is considering imposing export restrictions on the firm.

The potential move by Washington, first reported by Reuters, would mark a major escalation in the tech battle between the US and China.

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