Asian stock markets were mixed in early trading Tuesday, amid reports that the Trump administration will extend a temporary reprieve for an export ban to China’s Huawei Technologies Co.

The Wall Street Journal reported Monday that the U.S. will soon announce a handful of U.S. companies may receive 90-day exemptions to the technology export ban announced last week. That could give some breathing room to Huawei and other companies, and serve as a potential bargaining chip assuming trade talks with China are resumed.

On Tuesday, Huawei’s founder and CEO Ren Zhengfei said in an interview that the potential reprieve is meaningless because the Chinese tech giant has already prepared for the worst, and has stockpiled chips. He also said U.S. export restrictions won’t hinder its development of 5G technology, and that within a few years Huawei’s 5G tech would be superior to that of every other company.

Tech stocks fell on Wall Street over concerns about how the Huawei ban will affect U.S. companies, and potential retaliation by China. The Dow Jones Industrial Average

DJIA, -0.33%

  fell 84.10 points, or 0.3%, to 25,679.90, the S&P 500 index

SPX, -0.67%

  declined 19.30 points, or 0.7%, to 2,840.23, while the tech-heavy Nasdaq Composite Index

COMP, -1.46%

  dropped 113.91 points, or 1.5%, to 7,702.38.

On Tuesday, Japan’s Nikkei

NIK, -0.27%

  fell 0.4%, and Hong Kong’s Hang Seng

HSI, -0.17%

 was last about flat after making up early losses. The Shanghai Composite

SHCOMP, +1.21%

  gained 1% and the smaller-cap Shenzhen Composite

399106, +1.60%

  rose 1.3%. South Korea’s Kospi

180721, +0.63%

  advanced 0.7%, while benchmark indexes in Taiwan

Y9999, +0.71%

 , Singapore

STI, -0.46%

  and Indonesia

JAKIDX, +0.94%

  were mixed, Australia’s S&P/ASX 200

XJO, +0.20%

  declined 0.3%.

Among individual stocks, Nikon

7731, +3.91%

  and SoftBank Group

9984, +2.95%

  gained in Tokyo trading, while Sony

6758, -3.88%

  and shipping company Mitsui OSK Lines

9104, -3.77%

  fell. In Hong Kong, AAC

2018, +1.51%

  and Bank of China

3988, +1.71%

  rose while Sino Biopharmaceutical

1177, -1.41%

  and casino operator Galaxy Entertainment

27, -0.83%

  dropped. Samsung

005930, +3.69%

 , which could benefit if Huawei’s supply of U.S. chips is cut off, surged in South Korea. Taiwan Semiconductor

2330, -1.05%

 fell in Taiwan. In Australia, BHP

BHP, -0.76%

  and Beach Energy

BPT, -2.63%

 declined, while Westpac Banking

WBC, +1.89%


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