Asian shares rise; Wall Street sinks
Asian shares rose Tuesday despite continuing worries about the health of the global economy ahead of trade talks between the U.S. and China.
Japan’s benchmark Nikkei 225 gained 1.1% to 21,604.16 in early trading. Australia’s S&P/ASX 200 added nearly 0.6% to 6,599.60, while South Korea’s Kospi gained 0.7% to 2,035.69.
Chinese markets resumed trading after recent holidays. Hong Kong’s Hang Seng gained 0.9% to 26,050.91, while the Shanghai Composite was up 0.6% at 2,921.43.
On Wall Street, the market extended its losing streak into a fourth week on Monday.
The S&P 500 fell 13.22 points, or 0.4%, at 2,938.79. The Dow Jones Industrial Average slid 95.70 points, or 0.4%, to 26,478.02. The Nasdaq dropped 26.18 points, or 0.3%, to 7,956.29.
U.S. blacklists China’s Hikvision
The Trump administration placed eight Chinese technology companies on a U.S. blacklist on Monday, accusing them of being implicated in human rights violations against Muslim minorities in China’s far-western province of Xinjiang.
The companies include two video surveillance companies — Hangzhou Hikvision Digital Technology Co. and Zhejiang Dahua Technology Co. — that by some accounts control as much as a third of the global market for video surveillance and have cameras all over the world.
The move, which was announced after U.S. markets closed, came on the same day negotiators from the U.S. and China began working-level preparations for high-level talks due to begin on Thursday in Washington. Entities on the list are prohibited from doing business with American companies without being granted a U.S. government license.