China chip stocks gain ground despite latest US crackdown
The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies to stymie China's ability to access and produce top-line chips.
«It was not a blanket ban, or as stringent as people first feared. So that, to me, is a positive,» said Tai Hui, Asia chief market strategist at JP Morgan Asset Management in Hong Kong.
«That said, I think we've seen in the past few years, things get tighter and tighter.»
Mainland indexes of global chipmakers and chip-making materials firms climbed around 2%, while designers and even toolmaker Piotech, one of the companies newly targeted by the U.S., rose around 1%.
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