Top Huawei executive held in Canada, China angry

Ottawa, December 6

A top executive and daughter of the founder of Chinese telecom giant Huawei has been arrested in Canada and faces extradition to the United States, officials said Thursday, angering Beijing days into a trade war truce with the US.

  The detention of Meng Wanzhou, Huawei’s chief financial officer, comes after American authorities reportedly launched an investigation into suspected Iran sanctions violations by Huawei, which was already under scrutiny by US intelligence officials who deemed the company a national security threat.

The arrest stirred tensions just as the United States and China agreed to a ceasefire in their trade spat while negotiators seek a deal within three months.

News of her detention rippled through stock markets in Asia, particularly Shanghai and Hong Kong, with tech firms among the worst hit. By lunch Shanghai was 1.3 per cent lower while Hong Kong was 2.6 per cent off. — AFP