Caixin
Oct 06, 2018 04:55 PM

Asia Tech Stocks Hit 15-Month Low on U.S.-China Tension

A man uses his laptop next to Lenovo's logos during the Mobile World Congress in Barcelona, Spain February 25, 2016. Photo: VCG
A man uses his laptop next to Lenovo's logos during the Mobile World Congress in Barcelona, Spain February 25, 2016. Photo: VCG

(Bloomberg) — An escalating face-off between the world’s two largest economies has caught Asian technology shares in the middle, hammering those with the most at stake.

The MSCI AC Asia Pacific Infotech Index hit the lowest since July 2017 on Friday as investors digested a Bloomberg News report that China had infiltrated American companies with a hardware hack three years ago. The story came the same day Vice President Mike Pence criticized China across economic, commercial and diplomatic fronts in a keynote speech.

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