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ASML shares up on hopes it will be spared in next round of US-China chip fight
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ASML shares up on hopes it will be spared in next round of US-China chip fight
Jul 31, 2024 3:05 AM

AMSTERDAM (Reuters) - Shares in ASML, 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.

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.

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