Original title: Asian Shares Dip After US Tech Rout, Alibaba Jumps: Markets Wrap
Asian equities fell after a tech selloff hit Wall Street Friday, with chip shares among the biggest losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. The MSCI Asia Pacific Index slipped 0.1% with chipmakers pushing the Nikkei-225 index down by 1.6%. Samsung Electronics Co. and SK Hynix Inc. tumbled after the US revoked China chip-gear permits. A gauge of technology shares in Hong Kong jumped as much as 2.6% with Alibaba surging 17% and lifting peers in the broader AI space, including Baidu Inc. and Tencent Holdings Ltd.