Reuters reveals U.S. preparing new sanctions on Chinese officials over Hong Kong crackdown; market reacts - Reuters News Agency
Business & FinancePolitics

Reuters reveals U.S. preparing new sanctions on Chinese officials over Hong Kong crackdown; market reacts

Reuters was first to report that the United States was preparing to impose sanctions on up to 14 Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong. China’s foreign ministry responded to the report by condemning “U.S. interference in China’s domestic affairs through the Hong Kong issue.” The U.S. State Department confirmed the sanctions plan the day after the Reuters report was published.

Market Impact

Following the Reuters report, stock markets in Asia gave up early gains on worries the move may signal a further deterioration in relations between the world’s two largest economies. Chinese financial stocks traded in Hong Kong fell 2.3% in morning trading, their sharpest drop in six months, amid concerns that sanctions could be extended to banks.



Article Tags
Topics of Interest: Business & FinancePolitics
Type: Reuters Best
Sectors: Economy & Policy
Regions: AsiaNorth America
Countries: China
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
FILE PHOTO: The flags of China, U.S. and the Chinese Communist Party are displayed in a flag stall at the Yiwu Wholesale Market in Yiwu, Zhejiang province, China, May 10, 2019. REUTERS/Aly Song/File Photo - RC2R5K9ZWVNO
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