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But a United States-led boycott of Huawei over security concerns has put pressure on US allies to ban the Chinese company from participating in their own 5G auctions. Both Australia and New Zealand have already instructed their domestic network operators to source 5G hardware from alternate partners, and several other nations are contemplating following suit, including Britain.

But on Tuesday, Apple lost 6.73 percent; Amazon fell 4.39 percent; Facebook lost 4.09 percent; and Zoom Video Communication, a video-conferencing software company, declined 5.14 percent.

But of 33 judicial officers in the tribunal, only 13 have the right to hear cases. How to streamline the hearing process and efficiently assign work is Liu's biggest challenge.

But he added “a lot of things can happen, including the fact that, perhaps — and would wait — it’s possible that the existing summit could take place or a summit at some later date.”

But it may also not be the perfect timing for dim sum bond issuances, with some experts indicating that the recent weakening of the Chinese currency may deter investors, who are reluctant to take on risks amid market uncertainties and escalating Sino-US trade tensions.