Chinese stocks fall after Trump's action on TikTok

Friday, 07. August 2020 04:20

Chinese indexes traded with losses on Friday after United States President Donald Trump said Washington would sanction any US entity doing business with TikTok parent ByteDance in 45 days, escalating tensions between China and the US. Additionally, coronavirus fears influenced investors as new US deaths grew by more than 2,000 for the first time in months.

The Shanghai Composite fell 0.65% at 4:14 am CET and the Shenzhen Composite dropped 1.04% at 4:16 am CET. Hong Kong's Hang Seng slipped 1.09% at 4:16 am CET.

Japan's Nikkei 225 followed sentiment from China as the index declined by 0.47% at 4:17 am CET as the dollar traded flat compared to the yen for 105.5695 at the same time.

Meanwhile, the Australian S&P/ASX 200 lost 0.53% at 4:18 am CET and the South Korean Kospi was up by 0.13% at 4:19 am CET.

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Breaking the News / VP