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SMIC Collapses 7%+ After Midday as CN Chip A-shrs Dive Collectively on US Stricter Export Ban
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Chip stocks listed in Hong Kong caved under pressure along with their A-share counterparts. Opening 0.79% lower, SMIC (00981.HK) once deepened its decline to 7.5% after midday to bottom at $29.4. It last printed at $29.8, down 6.3%, on a turnover of $3.558 billion. HUA HONG SEMI (01347.HK) opened slipping 0.2%. It last printed at $20.6 after midday, down 4.85%, on a turnover of $281 million. The US government announced at the beginning of last month a further tightening of the semiconductor export ban to China, adding 136 Chinese entities to the control list, effective from December 31, 2024. The sanctioned targets include NAURA Technology, Piotech, chipmaker SwaySure collaborating with Huawei, SiEn (Qing Dao), and Pensun Technology among other Chinese companies. The new measures include restrictions on exporting high-bandwidth memory chips crucial for high-tech applications like AI training to China, coupled with 24 types of semiconductor manufacturing equipment and 3 software tools, as well as new export restrictions on chip equipment manufactured in countries like Singapore and Malaysia, but Japan and the Netherlands industries will enjoy a certain degree of exemption. AAStocks Financial News |
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