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Traders Prepare for More Swings From Rising U.S.-China Tensions
U.S. President Donald Trump’s move to ban WeChat and TikTok just sent a shock wave across Asian markets and hit some of the most loved tech stocks in the region. Shares of WeChat operator Tencent Holdings Ltd. plunged as much as 10%. Other tech names such as Alibaba Group Holding Ltd. and Samsung Electronics Co. also showed up as the big decliners in Asia on Friday. The MSCI Asia Pacific Index turned lower to fall as much as 1.4%, snapping a four-day gaining streak. “There’s no saying how bad things could get. We don’t know where the negative headlines could end. Today it could be social media, tomorrow it ... (full story)
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- Aug 7, 2020 7:37am Aug 7, 2020 7:37am
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