Asian shares slipped to three-week lows on Friday as the release of a whistleblo...
TOKYO - Asian shares slipped to three-week lows on Friday as the release of a whistleblower complaint against U.S. President Donald Trump added to worries about the global economy, already reeling from the China-U.S. trade war.
A whistleblower report released on Thursday said President Donald Trump not only abused his office in attempting to solicit Ukraine’s interference in the 2020 U.S. election for his political benefit, but that the White House tried to “lock down” evidence about that conduct. “While no one thinks the Senate will vote for his impeachment given the Republican majority there, we could see more new revelations during a long investigation process,” he added.CNBC reported that trade war talks were scheduled for Oct. 10-11 in Washington, citing people familiar with the arrangements, and China’s top diplomat said China was willing to buy more U.S. products.
That in turn hit chip-related shares in Asia such as Samsung Electronics, SK Hynix and Tokyo Electron. Some market participants suspect the dollar was also helped by continued tightness in dollar funding after U.S. short-term borrowing costs shot up last week.Sterling traded at $1.2330, near two-week low of $1.2303 hit on Thursday, as investors waited for the British parliament’s next attempt to break the Brexit impasse.
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