HSI Slips As Asian Markets Fall Over Huawei Case

Hong Kong shares ended Tuesday's morning session in negative territory following the US decision to charge Huawei on numerous counts, which overshadowed upcoming trade talks between the countries.

The Hang Seng Index slipped 0.6 percent, to 27,413 by the break.

On the mainland, the Shanghai Composite Index slipped 0.5 percent to 2,583 while the Shenzhen Composite Index fell 1.4 percent, to 1,297.

Most other regional markets fell Tuesday as the Huawei case cast a shadow over upcoming trade talks, while investors were also tracking a Wall Street sell-off fuelled by concerns corporate profits after industrial giant Caterpillar and chip company Nvidia posted worse than expected results.

"Caterpillar and Nvidia are not the first companies to blame China for their afflictions, but both companies are seen as industry bellwethers and their disappointing results provide further evidence that this time China's slowdown is for real," said Rodrigo Catril, senior markets strategist at Australia National Bank.

Tokyo dropped 1 percent by the break.

Sydney dropped 0.6 percent and Singapore was 0.4 percent lower with Seoul dropping 0.5 percent. Wellington and Taipei were also well down but Manila and Jakarta rose. (AFP)