Asian equity markets have tumbled overnight after the arrest of a top executive of Huawei, the Chinese technology giant, for extradition to the US raised fears of a fresh flare-up of trade tensions between the two superpowers. Meng Wanzhou, the chief financial officer of Huawei and the daughter of its founder, was reported to have been arrested in Canada in relation to violations of US sanctions against Iran. The Nikkei lost 1.9 per cent to close this morning at 21,501.62, a five-week low. A short while ago the Shanghai Composite was trading down 1.68 per cent at 2,605.29. The FTSE 100, which closed at 6,921.84, was forecast to open 75 points lower when trading began.

Source: The Times December 06, 2018 08:48 UTC