Asian shares near four-month lows on Huawei fallout fears
Updated : May 21, 2019 08:31 AM IST
MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade but stayed close to a four-month low touched on Friday. It has fallen about 8 percent from a nine-month peak hit just over a month ago. Japan's Nikkei fell 0.5 percent.
The US government on Monday temporarily eased some trade restrictions imposed last week on China's Huawei, allowing the company to purchase American-made goods to maintain existing networks and provide software updates to existing Huawei handsets for 90 days.
Markets showed a scant reaction to the speech by Federal Reserve Chairman Jerome Powell, who dismissed comparisons between the rise of business debt to record levels in recent years and the conditions in US mortgage markets that preceded the 2007-to-2009 economic crisis.
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