Alibaba’s stock witnessed a more than 7% decline in Hong Kong following the company’s surprise decision to cancel part of its high-profile restructuring. The tech giant cited US restrictions on the export of advanced computing chips as the reason for calling off the spinoff of its cloud computing arm. The move highlights the impact of the US-China chip war on major Chinese companies. Alibaba had previously announced a broad restructuring plan, aiming to split the company into six distinct entities to pursue funding through public listings, but this latest development has raised concerns among investors.