ASML and peers climb on hopes for less severe US curbs on China chips
Technology
ASML and peers climb on hopes for less severe US curbs on China chips
(Reuters) - Shares of ASML and its peers in the European computer chip equipment sector climbed on Thursday after Bloomberg News reported that looming US restrictions on the Chinese semiconductor industry may be less severe than expected.
The Bloomberg report, citing unnamed sources, said that major Chinese memory chip manufacturer ChangXin Memory Technologies Inc (CXMT) would not be added to US trade restrictions lists, adding that the timing and contents of the decision are not certain.
The US Commerce Department oversees US restrictions on China exports and is expected to issue new guidance after the Thanksgiving holiday.
ASML, the largest supplier of semiconductor-making equipment, declined to comment. At an investor day two weeks ago the company said it expects sales of its tools to China to drop to 20% of total sales in 2025 from nearly 50% over the previous six quarters.
