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· Stocks in Asia Pacific fell in Friday afternoon trade as tensions between the U.S. and China rise.

Hong Kong’s Hang Seng index led losses among the region’s major markets as it plummeted 5.5%, as of its final hour of trading.

China is poised to impose a new national security law on Hong Kong after months of anti-government protests in the Chinese-ruled city. The move has sparked concerns that Beijing is tightening its grip on Hong Kong, and there are worries it could trigger another wave of pro-democracy protests.

The draft law was announced at the annual National People’s Congress (NPC), the Chinese parliament, which kicked off on Friday.

· Global stocks skid as Hong Kong returns as Sino-U.S. flashpoint

Global shares tumbled on Friday as Hong Kong’s political unrest returned as a flashpoint in fast-deteriorating U.S.-China relations, following Beijing’s moves to impose a new security law on the city.

The Asian financial hub's benchmark Hang Seng index .HSI sank 5% to a seven-week low, pulling MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS down 2.5%.

China is set to impose new national security legislation on Hong Kong to tighten its grip on the semi-autonomous city.

The decision drew a warning from President Donald Trump that Washington would react “very strongly” against the attempt to gain more control over the former British colony.

· Japan stocks drop as Hong Kong security law raises concerns over Sino-U.S. tensions

Japanese shares fell on Friday, as risk sentiment was hit after China’s plans to impose a new security legislation on Hong Kong fuelled worries over Sino-U.S. tensions.

The benchmark Nikkei average dropped 0.8% to 20,388.16, after erasing earlier gains. But for the week, the index gained 1.8%, logging its first weekly rise in two.

Global equities pulled back as Beijing was set to impose a new national security legislation on Hong Kong. The move drew a warning from U.S. President Donald Trump, who said the United States would react “very strongly” against it.

A big fall in Hong Kong’s Hang Seng index, which last quoted down 5.2%, especially pressured investor sentiment.

The broader Topix declined 0.9% to 1,477.80, with all but three of the 33 sector sub-indexes on the Tokyo exchange finishing lower.

· China stocks drop most in 9 weeks as growth, trade risks loom

Chinese stocks dropped on Friday, wrapping up their worst week since March, as concerns over economic growth and renewed tensions with the United States following a new national security law in Hong Kong dented investor sentiment.

At the close, the Shanghai Composite index was down 1.9% at 2,813.77. It fell by the same margin on a weekly basis. The blue-chip CSI300 index fell 2.3% on Friday and was also down by the same for the week. Both benchmarks marked their worst week since March.

· European stocks traded lower on Friday as ties between the U.S. and China come under further strain, potentially threatening the “Phase One” trade deal signed earlier this year.

The pan-European Stoxx 600 dropped 1.6% in early trade, with banks plunging 3.1% to lead losses as all sectors and major bourses slid into the red.

Tensions between the world’s two largest economies have flared on multiple fronts in recent days. China is poised to impose a new national security law in Hong Kong following months of anti-government protests, raising further questions about Beijing’s control over the city and likely evoking the ire of the U.S. and other Western powers which supported pro-democracy protesters.