China tech shares sink as U.S. export curbs raise chip sector hurdles

Published by
Reuters

By Josh Horwitz and Jason Xue SHANGHAI, Oct 10 (Reuters) – Shares in Chinese tech giants Alibaba Group and Tencent as well as in chipmakers slumped on Monday, as investors were spooked by new U.S. export control measures aimed at slowing Beijing’s technological and military advances. The Biden administration published a sweeping set of export controls on Friday, including a measure to cut China off from certain semiconductors made anywhere in the World with U.S. equipment. The raft of measures, some of which take immediate effect, could amount to the biggest shift in U.S. policy toward exporti…

Read More

See also  Qualcomm bets on metaverse with a new $100 million investment fund

Leave a Reply