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U.S. lawmakers from both parties have proposed banning federal government systems from using Chinese AI components, putting pressure on mainland Chinese stocks, which fell, while Hong Kong stocks rose against the trend.
Chinese mainland stocks opened lower on Monday, pressured by news that bipartisan U.S. lawmakers introduced legislation to ban the use of China-made AI data center data transfer components in federal government systems. The Shanghai Composite Index opened down nearly 0.26% to 3,878 points, and the ChiNext fell 0.65% to 3,267 points. Hong Kong stocks, however, rose against the trend, with the Hang Seng Index opening up 0.18% to 24,554 points.
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