Shares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday afternoon amid the ongoing fallout surrounding the Chinese telecommunications giant.
Shares of Huawei suppliers took a hit on Thursday afternoon amid the ongoing fallout surrounding the Chinese telecommunications giant.The U.S. last week added Huawei to a trade blacklist, which puts curbs on its ability to do business with American firms. That decision was partially eased days later, in an effort to minimize disruption for the Chinese telecommunications giant's partners.
Richard Yu, chief executive officer of Huawei Technologies Co., presents the P30 series smartphone during a Huawei Technologies Co. launch event in Paris, France, on Tuesday, March 26, 2019.Shares of suppliers to Chinese tech giant Huawei took a hit on Thursday afternoon amid the ongoing fallout surrounding the world's largest telecommunications equipment maker.
In Taiwan, contract manufacturing giant Hon Hai Precision Industry — commonly known as Foxconn — dropped more than 3%, while the world's largest contract chipmaker Taiwan Semiconductor Manufacturing fell 3.15%. In Hong Kong, Sunny Optical, maker of smartphone camera module and lens, saw its stock plummet 6.46%, while Luxshare dropped 6.16% in Shenzhen. South Korean chipmaker"In terms of sectors, we're still sort of avoiding tech right now.
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