ASML and Tokyo Electron shares rose after a report that the U.S. is considering sanctions on China's chip industry that stop short of earlier proposals.
Shares of key global semiconductor equipment firms jumped on Thursday after a report that the U.S. is considering sanctions on China 's chip industry that stop short of earlier proposals.
ASML was around 4.3% higher in early trade in Europe. Tokyo Electron was up more than 6% in Japan, where it trades.An ASML icon is being displayed on a circuit board, alongside the flags of the USA and China, in this photo illustration taken in Brussels, Belgium, on January 4, 2024.Shares of key global semiconductor equipment firms jumped on Thursday after a report that the U.S. is considering sanctions on China's chip industry that stop short of earlier proposals.
The U.S. Commerce Department's Bureau of Industry did not immediately respond to a request for comment on the Bloomberg report. The U.S. is now considering adding fewer suppliers to Chinese technology giant Huawei to an export blacklist known as the Entity List. According to the report, one key Chinese firm that won't be added is ChangXin Memory Technologies, a memory company and potential rival to the likes of SK Hynix and Samsung.
Analysts at Jefferies said ASML had previously guided toward a 30% decline in its revenue from China next year. The exclusion of that company could mean that ASML's sales in China "decline by less than expected next year," Jefferies said Thursday.
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