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Hong Kong saw the stock markets retreat along with China

Hong Kong and China saw a retreat in their stock markets this Wednesday with the benchmarks seeing a fall for the second day in a row as the investors decided to step back before the interim trade deal had been signed between China and United States.

While the delegates of China who were led by, Liu He, who is the Vice-Premier were in the capital for the signing of the trade agreement on Wednesday. The traders had been put on the brink with the reports in the media which said that the tariffs which are currently in place in United States are going to stay in place until the elections in United States and the administration in the United States is coming up with the new edicts for the curbing of exports to the Chinese giant Huawei Technologies.

While both the sides had compartmentalized their issues apart from trade, it is still looking at a lot more frictions as per the analysts.

Shenzhen Sunyes had led a few of the suppliers from China of Huawei lower. The company that is deriving 42% of their sales from the telecom company had dropped by 1.6% to a level of 7.49 yuan. The Shennan Circuits had seen a slip of 1% to a level of 170.24 yuan and there was a loss of 1.1% in the Tianama Microelectronics to a level of 16.83 yuan. Huawei is responsible for a minimum of 17% of revenues of these two companies as per the data.

The commerce department in United States had been drafting the rules which are going to block the exports to Huawei in case the component of America is making up over 10% of the values of producers.

Isabel Ernest
Isabel Ernest Subscriber
Sr. Content Editor & Writer At Chemical News Reports 24

The basic reason for Isabel to pursue a Degree in Industrial engineering was the mysteries that are entailed by the universe. Isabel has always been wondering and looking for studies projecting the presence of alien life forms. And having an interest in writing just made things easy for Isabel to opt for the position of Sr. Content Editor & Writer. She has been a part of this portal for 3 years now. Her hard work and dedication have been fruitful by being appointed as Head of the Industry News domain. Isabel handles the A to Z of this domain as well as encourages her team members to give the best of quality while working.

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