Asia feels chill from Sino-US tech cold war

SYDNEY: Asian shares were stuck in the red on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world's two largest economies.

The chance of a rate cut seemed to diminish as many Fed policy makers saw recent weakness in inflation as"transitory", though the latest escalation in the trade war means markets are still wagering on an eventual easing. Shares in chipmaker Qualcomm Inc dived 10.9per cent after a federal judge ruled the company illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees.In currencies, constant trade friction saw the safe haven yen in demand again as the dollar dipped to 110.22 yen and away from the week's top of 110.67.Sterling was the main mover, sliding to a four-month low at US$1.2625 before steadying at US$1.2660 in Asia.

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