A sharp decline in technology shares has dragged down benchmark stock indexes in China and Hong Kong since the global chief financial officer of Chinese technology giant Huawei was detained in relation to alleged violations of US sanctions.

The Chinese foreign ministry has demanded Canada release Huawei Technologies Chief Financial Officer Meng Wanzhou who was arrested upon request of the United States and to reveal the reason behind the arrest.

“We have made solemn representations to Canada and the US, demanding that both parties immediately clarify the reasons for the detention, and immediately release the detainee to protect the person’s legal rights,” foreign ministry spokesman Geng Shuang told a regular press briefing.

The Chinese Embassy in Ottawa earlier asked for answers from the Canadian authorities.

“The Chinese side firmly opposes and strongly protests such kinds of actions, which have seriously infringed upon the human rights of the victim. The Chinese side has lodged stern representations with the US and Canadian side, and urged them to immediately correct the wrongdoing and restore the personal freedom of Ms Meng Wanzhou”, an embassy spokesperson said on 5 December.

Canadian authorities arrested Meng on December 1 in Vancouver over suspicions she violated US sanctions against Iran, media reported.

The US authorities have reportedly been reviewing Huawei’s alleged shipping of US products to Iran and other countries in violation of the sanctions regime and other export measures.

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