TOKYO (Reuters) - Asian stocks slipped on Wednesday on the specter of a Sino-U.S. trade war ahead of an end-of-week deadline for U.S. tariffs on $34 billion worth of Chinese imports while the yuan stabilized after China’s central bank moved to calm nervous investors.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.2 percent, a day after it hit a nine-month low. Japan’s Nikkei lost 0.7 percent.
Mainland Chinese shares dropped, with CSI300 Index off 0.85 percent.
Wall Street shares declined on Tuesday, giving up early gains in a truncated session ahead of the Independence Day holiday on Wednesday, as technology shares came under pressure just a day after their solid start for the quarter on Monday.
The S&P 500 gave up 0.49 percent while the Nasdaq Composite dropped 0.86 percent.
Facebook lost 2.3 percent after the Washington Post reported a federal probe on the data breach linked to Cambridge Analytica was broadened while Tesla fell 7.2 percent on questions over whether it could sustain the pace of making its Model 3 sedans.
Micron Technology Inc fell 5.5 percent after its rival firm, Taiwan-based competitor United Microelectronics Corp 2303.TW, said it received a temporary injunction banning chip sales in mainland China.
Coming on the heels of escalating tensions between the United States and China over tariffs and investment restrictions, the injunction sparked selling in other U.S. chipmakers.
“We have the issue of Micron just when technology shares started to lose momentum after their stellar performance so far this year. If we see further profit-taking in the sector, that would be worrying given their heavy weighting in major
