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Asian Markets Mostly Lower

(RTTNews) - Asian stock markets are mostly lower on Monday, tracking the weak cues from Wall Street Friday that reflected a negative reaction to earnings results from major banks and weak U.S. retail sales data.

Worries about U.S.-China tensions also weighed on the markets after Reuters reported, citing people familiar with the matter, that the Trump administration has notified Chinese telecom giant Huawei's suppliers, including chipmaker Intel, that certain licenses to sell to the Chinese company will be revoked.

The Australian market is declining following the weak cues from Wall Street Friday. Investor sentiment was also dampened following comments by Brendan Murphy, the head of Australia's health department, that it was unlikely international borders would be substantially reopened this year even if most people received the coronavirus vaccine.

The benchmark S&P/ASX 200 Index is lower by 43.10 points or 0.64 percent to 6,672.30, after falling to a low of 6,661.20 The broader All Ordinaries Index is down 41.90 points or 0.60 percent to 6,944.90. Australian markets ended little changed on Friday with a positive bias.

Among the major miners, BHP Group is losing almost 3 percent, Rio Tinto is lower by more than 2 percent and Fortescue Metals is down almost 1 percent ahead of their quarterly production results.
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