Changes in Hong Kong stocks | Alibaba-W (09988) fell more than 4% in the afternoon, and the market is worried that the impact of stricter chip regulations, UBS indicates that the related impact of stricter chip regulations may be overestimated

The Zhitong Finance App learned that Alibaba-W (09988) fell more than 4% in the afternoon. As of press release, it decreased by 4.21% to HK$89.85, with a turnover of HK$8.495 billion.

According to the news, the New York shorting agency Culper Research said earlier that Megaspeed, headquartered in Singapore, used Southeast Asian intermediaries to obtain advanced Nvidia chips to circumvent US trade restrictions, and that Alibaba suspected that it had provided Megaspeed with billions of dollars to purchase these chips.

UBS released a research report saying that the market's short-term sentiment towards Alibaba is negative, but the bank believes that the relevant impact may be overestimated. Reasons include Alibaba Cloud's largest deployed computing power in China, its self-developed Pingtou chip can be used as a complement, and there is room for price increases if supply tightens.