[HONG KONG] Asian stocks swung on Wednesday (Apr 16) after Nvidia’s announcement of new US licensing rules on shipments of its new chip to China rattled investor confidence already shot by Donald Trump’s sweeping trade war.
After a relatively peaceful couple of days following last week’s tariff-fuelled ructions, investors were once again on the defensive as a standoff between the world’s top economic superpowers shows no signs of abating.
China did little to soothe worries by saying that US levies were putting pressure on its economy, which data showed expanded more than expected in the first quarter.
A decision by Hong Kong’s postal service to stop shipping US-bound goods in response to “bullying” levies added to the unease.
Chip behemoth Nvidia said on Tuesday that US officials had told the firm it must obtain licences to ship its new H20 semiconductors to China because of concerns they may be used in supercomputers…
