Alibaba and WuXi AppTec decline in Hong Kong after addition to US blacklist
Alibaba Group Holding and pharmaceutical contractor WuXi AppTec fell on Tuesday after the US placed them and several other Chinese companies on a blacklist over alleged military links.
Alibaba slipped 0.3 per cent to HK$118.50 and WuXi AppTec tumbled 5.5 per cent to HK$114.60 in morning trading in Hong Kong.
Other firms on the list, including electric vehicle (EV) maker Nio and tech giant Baidu, shrugged off the Trump administration’s move and rose after trading began.
The Hang Seng Index eased...
Pentagon Blacklists Chinese Tech Firms
- BYD and Alibaba among big names aiding China’s military, Pentagon says The Guardian —
- Pentagon labels Alibaba, BYD as aiding Chinese military The Korea Herald —
- US lists China’s BYD, Alibaba, Baidu as ‘Chinese military companies’ Al Jazeera —
- Pentagon expands list of China military-linked firms to include Alibaba, Baidu in fresh blow to diplomatic thaw CNBC —
- US adds BYD to list of firms with alleged Chinese military ties BBC News —