Accusations against China tech giant Huawei's chief financial officer Meng Wanzhou have been "fabricated" and were aimed at suppressing the country's high-tech industries, state media said on Saturday, citing foreign ministry spokeswoman Hua Chunying.
* European shares head lower, U.S. set to open weaker. * Asian shares down for the week but global markets higher. * China Evergrande (EGRNF) misses interest payment due Thursday. * U.S. Treasury yields at highest in nearly three months. By Tommy Wilkes and Anushka Trivedi.
Bitcoin fell nearly 5% on Friday after China's central bank said it would crack down on cryptocurrency trading, banning overseas exchanges from providing services to mainland investors. The largest cryptocurrency was last down 4.6% at $42,874, with smaller coins that typically trade in tandem with bitcoin also tumbling.
As fears of contagion from any default by China Evergrande Group (EGRNF) mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent checks on their exposure to the troubled sector.
China Evergrande Group (EGRNF) has missed a dollar bond interest payment deadline, moving closer to a potential default and fuelling worries about a collapse that could send shockwaves through China's economy and beyond. WHAT IS EVERGRANDE? Chairman Hui Ka Yan founded Evergrande in Guangzhou in 1996.
Tin prices hit record highs on Friday as inventories fell in exchange warehouses, although looming U.S. rate hikes and concerns over debt-ridden China Evergrande (EGRNF) kept a lid on gains. The most-traded October tin contract on the Shanghai Futures Exchange jumped as much as 4.8% to a record 287,960 yuan a tonne.
* MSCI APAC index ex-Japan set for third weekly drop. * Japan's Nikkei climbs 2% after trading resumes post-holiday. * China Evergrande (EGRNF) misses interest payment due on Thurs. * U.S. Treasury yields at highest in nearly three months. By Alun John and Anushka Trivedi.
Tin prices jumped to record highs on Friday as data showed low inventory levels in exchange warehouses, although looming U.S. rate hikes and concerns over debt-ridden China Evergrande (EGRNF) capped gains. The most-traded October tin contract on the Shanghai Futures Exchange jumped as much as 4.8% to a record 287,960 yuan a tonne.
Asian shares were on edge on Friday hurt by persistent uncertainty around the fate of debt-ridden China Evergrande (EGRNF), even as more risk appetite drove gains for Wall Street and U.S. benchmark Treasury yields. MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.1% and was set for a weekly loss of 0.68%. Australian shares fell 0.41% while the Hong Kong benchmark was mostly flat.
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