Original title: Asian Tech Shares Dip After US Rout, Alibaba Jumps: Markets Wrap
Asian equities were under pressure after a tech selloff hit Wall Street, with chip shares among the biggest losers. Hong Kong was an outlier as Alibaba Group Holding Ltd. surged. Chipmakers pushed Japanese shares down 1.5%. Samsung Electronics Co. and SK Hynix Inc. tumbled after the US revoked China chip-gear permits. A gauge of technology firms in Hong Kong jumped as much as 1.7% with Alibaba surging 18%, the biggest intraday gain since November 2022.