Huawei suppliers extend losses as fears deepen over CFO arrest

By John Mac, December 10, 2018

Shares of Huawei suppliers extend losses because worries deepen over the arrest of Huawei Technologies Co Ltd’s CFO. Meng Wanzhou, who’s also the daughter of the founder of Huawei, faces US accusations that she insured her up corporation’s links to a firm that tried to offer products to Iran despite sanctions, a Canadian prosecutor mentioned on Friday.

Stocks of MediaTek Inc, Hon Hai Precision and Taiwan Semiconductor Manufacturing Co Ltd down about 1. BYD Electronic Global Co Ltd and AAC Technologies Holdings equally drop more than just 3 percent.

Over the mainland, O-Film Tech,” AVIC Jonhon Optronic Technology, Luxshare Precision Sector, BOE Technologies and SF Holding Co Ltd article declines in the range of 14 percent commission.

Echoing issues increased elsewhere from the world, the EU’s technological innovation leader said Europe should be worried about Huawei as well as also different Chinese technology organizations on account of the risk that they pose to the bloc’s security and industry.
Hong Kong stocks of China’s No 2 telecom gear manufacturer ZTE Corp drop more than two percent, while ZTE’s Shenzhen shares fall in excess of inch percent commission.
The Shenzhen stocks of ZTE had tumbled nearly 70 percent at one point this year whilst the united states imposed an export ban that threatened to place it out of a small organization before recovering some soil.