By Samuel Shen and Summer Zhen

SHANGHAI/HONG KONG Aug 5 (Reuters) - Shares of Chinese optical module makers such as Zhongji Innolight slumped on Wednesday after a Reuters report that ‌the Trump administration was drafting a ban on U.S. imports of new models of ‌Chinese data centre components.

The CSI300 Telecommunication Services Index tumbled as much as 9% in early trading.

Export-dependent optical module makers including Zhongji ​Innolight, Eoptolink Technology and Suzhou TFC Optical Communications fell sharply.

The U.S. government is working on a measure on national security grounds to bar imports of new Chinese optical transceivers, which allow data to travel over fibre-optic cables at the speed of light within data centres, Reuters reported.

The news threatens to hit ‌already shaky confidence in China's ⁠AI hardware stocks after a savage selloff, but some analysts say the market could be over-reacting.

"We see a low risk that this ban will materialise under ⁠Trump," Jefferies said in a note.

"We believe the move is a U.S. negotiation tactic ahead of President Xi's visit to the U.S. in September, especially given China's rare earth export controls, which affect the U.S. ​optics ​industry."

The psychological impact was evident on Wednesday as investors ​dumped optical module stocks even as those ‌of domestic chipmakers surged.

Shares of Zhongji Innolight — the 10th-biggest China-listed stock by market value — shed roughly 10% in both Shanghai and Hong Kong.

The Chinese optical parts maker generated 62% of its revenue from the U.S. in the first quarter. It warned earlier this year that an escalation in Sino-U.S. trade tensions could result in a big slide in performance, or even losses.

Shares of Eoptolink Technology, ‌which generates 96% of its sales from overseas markets, ​tumbled 10%. TFC Optical, also heavily reliant on foreign markets, ​slumped roughly 6%.

"The U.S. move is not ​surprising, as its policies toward China are driven by two forces: concerns ‌over trade imbalances and efforts to contain China's ​technological advancement," said Zhan ​Kai, a partner at law firm Dacheng in Shanghai.

The U.S. is increasingly moving from blocking technology transfers to China, toward blocking Chinese investment and Chinese access to its market, he ​said.

"For Chinese companies, the priority ‌is to proactively diversify their client base and target markets ... rather than just to ​obtain technologies."

(Reporting by Samuel Shen and Summer Zhen; Additional reporting by Li Gu in ​Shanghai; Editing by Tom Hogue and Muralikumar Anantharaman)