Original title: Asian Shares Fall, Alibaba Lifts China Tech Stocks: 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 1.8%. Samsung Electronics Co. and SK Hynix Inc. slid 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 shares in the broader AI sphere, including Baidu Inc. and Tencent Holdings Ltd.