Luxshare Precision Industry and other mainland Chinese companies that supply Apple tumbled in Monday trading, after US President Donald Trump urged the Cupertino, California-based maker of iPhones and iPads to make more of its products at home amid threats to put more tariffs on Chinese products.
Luxshare Precision, a maker of connectors that relies on the US company for 37 per cent of its sales, slumped by 8.6 per cent to 16.34 yuan in Shenzhen, and was heading for its biggest decline since April 23. Other suppliers such as O-film Tech and Suzhou Anjie Technology were also heading south, with declines of at least 6 per cent. The benchmark Shanghai Composite Index slipped by 0.6 per cent in Monday afternoon trading.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
