Shares of Chinese smartphone maker Xiaomi plunged on Friday trade after U.S. President Donald Trump’s administration placed the firm on a blacklist of alleged Chinese military companies.
The Nikkei 225 faded 179.08 points, or 0.6%, to 28,519.18
The Japanese yen traded at 103.67 per U.S. dollar, stronger than levels above 104 against the greenback seen earlier this week.
The Hang Seng index in Hong Kong gained 77 points, or 0.3%, to 28,573.86.
By Friday’s close in Hong Kong, shares of Xiaomi listed in the city dived 10.26%.
Hong Kong-listed shares of CNOOC, fell 1.1% — after the U.S. Commerce Department announcing Thursday it had added the firm to its entity list, which essentially restricts firms from receiving specific goods made in the U.S.
U.S. President-elect Joe Biden on Thursday revealed details of a $1.9-trillion coronavirus rescue package.
Biden’s proposal, called the American Rescue Plan, includes some familiar stimulus measures in the hope of sustaining families and companies till vaccines are widely distributed. Some of the proposed measures include stimulus checks as well as unemployment support.
In other markets
In Shanghai, the CSI 300 slid 12.38 points, or 0.2%, to 5,458.08.
In Korea, the Kospi index subtracted 64.03 points, or 2%, to 3,004.87
In Singapore, the Straits Times nicked higher 4.87 points, or 0.2%, to 3,004.87.
In Taiwan, the Taiex Index 90.8 points, or 0.6%, to 15,616.39.
In New Zealand, the NZX 50 skidded 91.18 points, or 0.7%, to 13,024.70.
In Australia, the ASX 200 let go of 0.08 points to 6,715.43.
