Stock Market News

ASML shares up on hopes it will be spared in next round of US-China chip fight

2024.07.31 05:55

By Toby Sterling

AMSTERDAM (Reuters) – Shares in ASML (AS:), the largest maker of equipment used to manufacture computer chips, jumped on Wednesday following a Reuters report that implied it will be spared the brunt of new U.S.-China export restrictions under consideration.

The report said the U.S. will exclude allies including the Netherlands, where ASML is based, from new restrictions on equipment sales to half a dozen Chinese chipmaking plants.

© Reuters. FILE PHOTO: A smartphone with a displayed ASML logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration//File Photo

Shares were trading up 6.2% at 855.20 at 0822GMT.

“Today’s news … definitely alleviates the market’s concerns as ASML had nearly half of sales from China in the first half of 2024,” said Kevin Wang of Mizuho Securities.



Source link

Related Articles

Back to top button