Shares of Chinese companies listed in the United States fell in early trading on Friday as reports that Washington was looking to expand the number of troops helping train Taiwanese forces added to rising Sino-U.S. tensions.
Relations between the world's two largest economies worsened this month over the shooting down of the Chinese spy balloon, weighing on China ADRs after a sharp rally starting late last year.has shed 8.5% so far this month, on track for its first decline in four months after surging about 70% from November to January.
"With the ADRs, you do have an overhang in terms of the delisting concerns from last year and so with the re-emergence political risk, the potential risk factor has gone up a little bit," said Michael Wang, deputy portfolio manager at Mirabaud Asset Management. A multitude of factors weighed on China ADRs last year including a risk of delisting from U.S. exchanges over an audit dispute, trade friction and geopolitical worries.
Meanwhile, a senior U.S. official said that the United States will likely limit the level of advanced semiconductors made by in China, in an attempt to thwart Beijing's technological ambitions and blocking its military advances.Our Standards:
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