Asian Shares Declined Amid US-Sino Tensions

Asian Shares Declined Amid US-Sino Tensions

Asian shares fell on Friday after the announcement of US president banning the transaction with the top tech companies of China. 

The decision has caused an enormous loss to the Tencent (the company owns WeChat app) and the owner of the most famous video making company TikTok (ByteDance).

As per the broadest index published by MSCI, Hang Seng  (Hong Kong) dropped 2%, Asian-Pacific shares declined by 1%, Tencent, one of the leading companies in Asia by market capitalisation, fell 9.0%.

A decline of 1.3% was seen in the Mainland CSI 300 Index of China while S&P500 futures slipped by 0.5%. On Wall Street, S&P500 gained 0.64% the previous week.

The famous company of Japan Nikkei (N225) slid by 0.6%. 

All this happened after the announcement of President Trump that the US will ban all the untrusted Chinese app such as TikTok and WeChat from their digital market. This news took away all the excitement from the Sino trade market.

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