0655 GMT - China's mega-cap internet companies like Tencent, Alibaba, and even Baidu, could see share price pressure following the worse-than-expected tariff announcement, according to Citi analysts in a research note. "While we are not sure whether the U.S. plans to announce any new restrictions on chip export, there have been concerns that tech companies that have cloud services and proprietary AI foundation models/capability could be under scrutiny and sanction," the analysts say. This may cause uncertainties for Alibaba, Tencent and Baidu. Companies that earn a majority of their revenue domestically from China will be relatively more resilient and less impacted by the tariffs. Within Citi's coverage, companies more immune from the new tariffs include JD.com, Meituan, NetEase, Tencent Music Entertainment, Trip.com and Kuaishou. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 02:55 ET (06:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。