Menu
Canada arrests top Huawei executive

Canada arrests top Huawei executive

Deputy chair of Huawei Meng Wanzhou

Credit: Dreamstime

Canadian authorities have arrested a top executive of Chinese tech giant Huawei Technologies, fanning fears of further tensions between China and the United States.

US stock futures tumbled on Thursday and Asian markets looked set, according to Reuters.

S&P500 e-mini futures fell almost two per cent at one point in thin Asian morning trade and were last were down 0.7 per cent.

The Canadian Justice Department said Meng Wanzhou, deputy chair of Huawei, was arrested early this month and that she was sought for extradition by the United States.

The arrest heightened the sense of a major collision between the world's two largest economic powers not just over tariffs but also over technological hegemony.

It also came as an inversion in the US yield curve has stoked global investor worries of a possible US recession.

Australian shares were down 0.3 per cent but MSCI's broadest index of Asia-Pacific shares outside Japan were little changed, ahead of opening of most other markets in the region.

Futures pointed to a fall of 0.4 per cent in Japan's Nikkei. Currencies were steadier, with major currencies little changed so far.

The euro traded flat at $1.1347 while the dollar dipped 0.1 per cent against the yen to 113.01. The yuan is also unmoved at 6.8660 in the offshore trade.

US Treasuries futures were also almost flat.

The benchmark Treasury 10-year yield fell to its lowest point since mid-September on Tuesday while the five-year yield dropped below the two-year yield, causing a so-called inversion in the yield curve.

Because an inverted curve has often tended to precede a recession, investors were spooked by that.

US markets were closed on Wednesday to mark the death of former president George H.W. Bush.

(Editing by Kim Coghill)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Huawei

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments