Apr 16, 2025 12:45 PM IST
The Dangle Seng China Enterprises Index dropped 3.2%, led by tech companies, following new US restrictions on chip exports to China.
Chinese language shares in Hong Kong are set to snap a six-day successful streak, as renewed fears of an increasing US-China commerce battle weigh on sentiment.
Know-how corporations like Meituan, Kuaishou Know-how, and JD.com Inc. led the declines within the Dangle Seng China Enterprises Index, which fell as a lot as 3.2%.(AFP/consultant )
The Dangle Seng China Enterprises Index tumbled as a lot as 3.2%, with expertise companies together with Meituan, Kuaishou Know-how and JD.com Inc. main the declines. The mainland benchmark CSI 300 Index dropped as a lot as 0.9%. Each indexes have been amongst Asia’s worst performers on Wednesday.
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The declines got here after the Trump administration imposed new restrictions on Nvidia Corp.’s chip exports to China, a transfer that’s raised considerations about how the curbs could escalate commerce tensions past import taxes. The fallout might weigh on chip-sector earnings and set again China’s ambitions to compete on the worldwide synthetic intelligence stage.
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“The underperformance for HK stocks is driven by concerns of the US China trade war extending to non-tariff measures, such as increasing restrictions on US technology and possibly financial markets,” stated Gary Tan, a portfolio supervisor at Allspring International Investments. The Nvidia disclosure “is likely to lead to some near-term slowdown in China AI development,” he stated.
Information / Enterprise / Hong Kong shares set to snap successful streak amid US-China commerce tensions
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