Xi Jinping-Biden (Lapresse) US-China: FCC revokes China Telecom license, possible threats to national security Asian stocks close lower after the US revoked China Telecom's license in the name of national security, a decision that threatens to exacerbate tensions between Beijing and Washington. The Shanghai composite index drops 1% to 3,562.31 points. In Honk Kong, the Hang Seng finished -1.6% at 25,628.74 points. Also negative was the Tokyo market where the Nikkei lost 0.03% to 29,098.24 points, while the Topix slipped by 0.23% to 2,013.81 points. The Federal Communications Commission (FCC) has in fact removed the authorization to operate in the…