Huawei reprieve is good and bad news for Asian tech stocks

Jamie McKane

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Huawei reprieve is good and bad news for Asian tech stocks

Stock markets in Asia surged in a relief rally Monday after the world’s largest economies declared a truce in their trade war. The sector that just won the biggest reprieve is tech stocks.

President Donald Trump’s decision to allow U.S. corporations to resume sales to Huawei Technologies Co., China’s largest telecommunications-equipment maker, and plans to hold off imposing an additional $300 billion in tariffs made tech stocks the best performers in Asia Monday.

[Bloomberg]
 
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