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Most Asean markets down on trade war

Most Southeast Asian stock markets declined on Friday as the trade war between the US and China snowballed into a deeper strategic issue, while Indonesia was on track to snap four weeks of declines.

US President Donald Trump on Thursday said his administration’s complaints against Huawei Technologies might be resolved within the framework of a Sino-US trade deal, while at the same time calling the Chinese firm “very dangerous”.

Washington last week placed Huawei on a trade blacklist, which effectively banned US companies from selling goods to the telecom giant.

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