HK-listed tech groups fall as US restricts Nvidia's chip sales to China

Semiconductor Manufacturing International

16/04/2025 04:14

** Shares of China's technology majors fall after U.S. restricts chip sales to China; Hong Kong-listed stock of Alibaba 9988.HK down 4.8% at HK$104.6 in their biggest one-day pct decline since April 7

** Tencent 0700.HK falls 2.9% to HK$442.6

** Nvidia NVDA.O on Tuesday said the U.S. government is restricting H20 artificial intelligence chip sales to China because of the risk that the chips could be used in a supercomputer

** H20 is currently Nvidia's most advanced chip for sale in China and is central to its efforts to stay engaged with China's booming AI industry

** Chinese companies including Tencent, Alibaba and TikTok parent ByteDance had been ramping up orders for H20 chips due to booming demand for low-cost AI models from startup DeepSeek

** Hong Kong shares of EV maker Xpeng 9868.HK drop 6.8%, BYD Co 1211.HK falls 3.7%, NIO 9866.HK down 4.7%

** Food deliverer Meituan 3690.HK declines 7.6%, e-commerce group JD.com 9618.HK falls 4.7%, PC maker Lenovo 0992.HK eases 4.4%, smartphones maker Xiaomi 1810.HK down 4.1%

** However Chinese chip makers rise with Hua Hong 1347.HK up 3.9%, SMIC 0981.HK gains 0.1%

** Hang Seng Tech Index .HSTECH falls 3.6%, Hang Seng Index .HSI down 1.9%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))