Original title: Asian Shares Dip After Tech Selloff, Alibaba Jumps: Markets Wrap
Asian equities came under pressure after a tech selloff hit Wall Street Friday, with chip shares among the losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. The MSCI Asia Pacific Index slipped 0.2% with chipmakers pushing the Nikkei-225 index down by 2%. Samsung Electronics Co. and SK Hynix Inc. slid after the US revoked waivers for the companies to use US technologies in their Chinese operations. Alibaba rose as much as 19%, energizing the broader AI sphere in China.