ASML and peers climb on hopes for less severe US curbs on China chips
Adds detail from paragraph 3
Nov 28 (Reuters) -Shares of ASML ASML.AS and its peers in the European computer chip equipment sector climbed on Thursday after Bloomberg News reported that looming U.S. restrictions on the Chinese semiconductor industry may be less severe than expected.
Shares in ASML were up 4.3% by 0809 GMT, with Dutch rivals BE Semiconductor BESI.AS and ASM International ASMI.AS rising by 5% and 2.9% respectively, among top performers on the European benchmark STOXX 600 index .STOXX.
The Bloomberg report, citing unnamed sources, said that major Chinese memory chip manufacturer ChangXin Memory Technologies Inc (CXMT) would not be added to U.S. trade restrictions lists, adding that the timing and contents of the decision are not certain.
The U.S. Commerce Department oversees U.S. 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.
Other top computer equipment suppliers include U.S. companies Applied Materials <AMAT.O)>, KLA Corp KLAC.O, Lam Research LRCX.O and Tokyo Electron 8035.T.
Reporting by Nathan Vifflin in Gdansk and Toby Sterling in Amsterdam
Editing by Milla Nissi and David Goodman
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
