STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSINGAPORE - Asia's stockmarkets dipped on Friday, with tech shares tumbling on deepening Sino-U.S. tensions, while the dollar was set to seal its longest winning streak in nine years as investors braced for U.S. interest rates to stay higher for longer.
Shares in Taiwan's TSMC, a big Apple supplier, fell 1% at the open. Shares in South Korea's SK Hynix, whose chips some users have found in China's Huawei Technologies' new phone, fell as much as 4.5% to a two-week low."China’s partial ban on Apple products put trade wars and U.S.-China decoupling back on the agenda," said Capital.com analyst Kyle Rodda."The ban is narrow in scope...however, it illustrated the two-way costs and risks of de-coupling.
That in turn has unleashed the dollar, which is up for an eighth straight week against a basket of currencies, a rally that has carried the U.S. currency index more than 5% higher. The euro is down 0.5% this week and traded steady at $1.0715 in Asia with investors reckoning a hold is more likely than a hike from the European Central Bank next week.
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