ASML shares up on hopes it will be spared in next round of US-China chip fight By Reuters

By Toby Sterling

AMSTERDAM (Reuters) – Shares in ASML (AS:), 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.