Huawei’s bonds came under pressure on Friday, whereas the company’s stocks did fairly well in a volatile environment.
Huawei's 4% due-2027 notes plunged by a record 2.1 cents to 94 cents on the dollar as of 3:49 am in Hong Kong, their lowest level in two months. Huawei’s 4.125% 2026s also fell 2 cents to 95.4 cents on the dollar as creditors fled the Chinese telecom giant
Hu Xijin, editor oft he Global Times, wrote on Twitter: „Shanghai stock exchange index dropped 2.48% Friday due to worry of an overall escalation of trade war, but Huawei related stocks soared. This is vote of confidence of the market on Huawei's long prepared back-up plan. Huawei's US supplies will become real victims.“
Asian markets:
BEIJING -- Chinese stocks closed lower on Friday, with the benchmark Shanghai Composite Index down 2.48 percent, at 2,882.30 points.
The Shenzhen Component Index closed 3.15 percent lower at 9,000.19 points.
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BANGKOK -- The Stock Exchange of Thailand (SET) index Friday moved down 6.64 points, or 0.41 percent to close at 1,608.11 points.
Some 14.05 billion shares worth 47.01 billion baht (about 1.49 billion U.S. dollars) changed hands.
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MUMBAI -- Indian markets closed higher Friday. Among sectors, auto and FMCG index gained 2.5 percent followed by bank and Infra.
The benchmark S&P, BSE Sensex closed at 37,930.77, up 537.29 points or 1.44 percent, compared to its previous close at 37,393.48.
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KUALA LUMPUR -- The Malaysian stock market ended higher here on Friday.
The Kuala Lumpur Composite Index (KLCI) was at 1,605.36 up 6.17 points or 0.39 percent, and the Emas was at 11,300.05 up 36.67 points or 0.33 percent.
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SINGAPORE -- Singapore stocks closed lower on Friday, with the benchmark Straits Times Index (STI) going down 0.77 percent, or 24.80 points, to close at 3,205.46.
A total of 1.18 billion shares changed hands with a turnover of 870.56 million Singapore dollars (about 633.23 million U.S. dollars). Losers outnumbered gainers by 213 to 165.
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HONG KONG -- Hong Kong stocks closed down 328.61 points, or 1.16 percent, to 27,946.46 points on Friday.
The benchmark Hang Seng Index traded between 27,909.73 and 28,428.0. Turnover totaled 102.43 billion Hong Kong dollars (about 13.05 billion U.S. dollars).
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HO CHI MINH CITY -- VN-Index, the stock market index of Ho Chi Minh City bourse in southern Vietnam, closed at 976.48 points on Friday, up 0.79 points, or 0.08 percent against the previous trading day.
Nearly 135.1 million shares worth roughly 3.2 trillion Vietnamese dong (nearly 138 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange, with prices of 125 stocks rising, 167 stocks decreasing, and 89 stocks remaining unchanged.
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MANILA -- Philippine shares closed 1.45 percent higher on Friday.
The benchmark Philippine Stock Exchange index increased by 108.66 points to 7,583.82. The all-share index went up by 50.41 points, or 1.08 percent, to 4,713.27.
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HANOI -- Stock market index of Vietnam's capital Hanoi, HNX-Index, closed at 105.79 points on Friday, down 0.3 points or 0.28 percent from the previous trading session.
Over 34.9 million shares worth 392.1 billion Vietnamese dong (17 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday.
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SYDNEY -- The Australian share market finished higher on Friday with all sectors posting gains, except the banks which fell close to one percent
At the market close the benchmark S&P/ASX 200 index rose 37.50 points, or 0.59 percent, to 6,365.30, while the broader All Ordinaries index was up 42.70 points, or 0.67 percent, at 6,460.20.
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TOKYO -- Tokyo stocks closed higher Friday as investor sentiment was lifted by robust economic data released from the United States overnight, while a comparatively weak yen against the U.S. dollar supported the key export sector.
The 225-issue Nikkei Stock Average added 187.11 points, or 0.89 percent, from Thursday to close the day at 21,250.09.
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SEOUL -- Seoul shares ended lower Friday.
The benchmark Korea Composite Stock Price Index (KOSPI) dipped 11.89 points, or 0.58 percent, to settle at 2,055.80. Trading volume stood at 519.5 million shares worth 4.9 trillion won (4.1 billion U.S. dollars).