Asian shares on the back foot amid heady valuations
Chinese stocks started lower while Semiconductor Manufacturing International Corp plunged
07 September 2020 - 07:45
Sydney — Asian shares were on the defensive on Monday as investors grappled with sky-high valuations against the backdrop of a global economy in the grip of a deep coronavirus-induced recession while oil prices dropped sharply.
Chinese stocks started lower while shares of Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) plunged to the lowest since June 16 on fears the company could be added to a US trade blacklist...
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