FTSE 100 LIVE: Asia stocks plummet as US – China tensions reach boiling point | City & Business | Finance

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In Japan, the Nikkei 225 shed 0.47 percent in early trade, while the Topix index declined 0.17 percent. South Korea’s Kospi was flat. Over in Australia, the S&P/ASX 200 traded 0.7 percent lower. Overall, the MSCI Asia ex-Japan index was little changed.

Investors will watch shares of Semiconductor Manufacturing International Corporation (SMIC), China’s largest manufacturer of semiconductors.

Tensions frose after a Defense Department spokesperson said the Trump administration is considering imposing export restrictions on the firm.

The potential move by Washington, first reported by Reuters, would mark a major escalation in the tech battle between the US and China.

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