TOKYO - Asia shares tumbled on Friday as Hong Kong's political unrest returned as a flashpoint in fast-deteriorating US-China relations, following Beijing's moves to impose a new security law on the city.
The decision drew a warning from President Donald Trump that Washington would react"very strongly" against the attempt to gain more control over the former British colony. Hong Kong activists called on Friday for people to rise up against Beijing's plans although a proposed midday march in the central financial district did not materialise.
Washington has ramped up criticism of China over the origins of the pandemic. Last week, it moved to block global chip supplies to blacklisted telecoms equipment giant Huawei Technologies, while the US Senate passed legislation that could prevent some Chinese companies from listing their shares on US exchanges.
While Beijing pledged more government support for the virus-hit economy, it set a target to create over 9 million urban jobs this year, down from a goal of at least 11 million in 2019 and the lowest since 2013.
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