Asia stocks decline amid China-U.S. rising tensions

Asia Stocks were mostly lower on Friday as tensions between Beijing and Washington weighed on investor sentiment.

Hong Kong’s Hang Seng index led losses among the region’s major markets, dropping 1.6% to close at 24,531.62. Shares of Chinese tech firms listed in the city tumbled. Chinese tech juggernaut Tencent plunged 5.04% while Semiconductor Manufacturing International Corporation’s stock in Hong Kong dropped 8.7%.

Mainland Chinese stocks also declined on the day, with the Shanghai composite down 0.96% to approximately 3,354.04 while the Shenzhen component shed 1.548% to around 13,648.50.