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Sydney — Asian shares stumbled on Tuesday and the dollar hovered near two-week lows as prospects for a long-awaited China-US trade deal was dealt another blow after the US levelled sweeping criminal charges against China’s telecom giant Huawei.
MSCI’s broadest index of Asia-Pacific shares outside Japan got off to a shaky start with losses accelerating as other regional markets opened.
Australia and New Zealand led the losses, with their benchmark indices down 0.7% each while South Korea’s Kopsi was off 0.3%. Chinese shares opened in the red too, with the blue-chip index down 0.2%.
Japan’s Nikkei slid about 1%. US stock futures also lost ground following from a torrid overnight session on Wall Street, with e-minis for the S&P 500 down 0.4%.
Investor sentiment, already shaken by pessimism over global growth, took another hit after the US justice department unsealed indictments against China’s top telecom equipment maker, Huawei, accusing it of bank and wire fraud to evade Iran sanctio...
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