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Chinese surveillance giants' stocks dive on US blacklist report

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After Huawei, two surveillance companies are experiencing share drops as Washington considers banning them from purchasing US components.

Washington may ban China’s Hangzhou Hikvision Digital Technology and Zhejiang Dahua Technology from purchasing US components.

The action, first reported by the New York Times, would also likely exacerbate a worsening row with Beijing after President Donald Trump stopped US firms from selling to Huawei and barred it from the US market. Huawei has been given a 90-day reprieve.Hikvision is the world’s largest seller of surveillance equipment, employing 34,000 people worldwide.

Chinese authorities have placed an estimated one million mostly Muslim ethnic minorities including Uighurs in internment camps, which Chinese authorities downplay as “vocational education centres”.

 

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