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Cybersecurity

Asia Tech Stocks Hit 15-Month Low on U.S.-China Tension

  • News of hacking of U.S. companies sours investor sentiment
  • Lenovo unrelated to story but investors “may have concerns”
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An escalating face-off between the world’s two largest economies has caught Asian technology shares in the middle, hammering those with the most at stake.

The MSCI AC Asia Pacific Infotech Index hit the lowest since July 2017 on Friday as investors digested a Bloomberg News report that China had infiltrated American companies with a hardware hack three years ago. The story came the same day Vice President Mike Pence criticized China across economic, commercial and diplomatic fronts in a keynote speech.