By Toby Sterling
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.
(Reporting by Toby Sterling)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.