News Snapshot:
Billions of dollars in market value was lopped off Asia’s listed chipmakers after the US announced new sanctions on Huawei, which one analyst billed a “death sentence†for the Chinese telecoms group. Taiwan’s MediaTek fell 9.9 per cent on Tuesday while Hong Kong-listed hardware makers Sunny Optical and AAC Technologies dropped as much as 11.5 and 5.3 per cent, respectively. All three provide technology components to Huawei. The sell-off came after the Trump administration on Monday announced strict new limits on the sale of any US-made chips to Huawei, which will restrict the Chinese company’s access to components such as...
