10:48 AM EDT, 07/31/2024 (MT Newswires) -- (Updates with ASML's ( ASML ) response in third paragraph and recent stock move in fourth paragraph.)

ASML ( ASML ) is expected to be included on a list of chip companies that will be exempt from a sweeping new trade restriction targeting China, media reports said Tuesday, citing people familiar with the matter.

The US government is preparing to implement new export limits aiming to keep China from accessing advanced semiconductor technology, reports said. But ASML ( ASML ) and other companies in the Netherlands, where ASML ( ASML ) is based, and Japan would be exempted from the curbs, according to reports.

ASML ( ASML ) declined MT Newswires' request for comment.

ASML ( ASML ) shares were up about 7% in recent US trading.

Price: 922.50, Change: +62.26, Percent Change: +7.24