Armco IT Services

Featured image of someone creating a cpu - Armco IT Support York

Asia chipmaker shares slide after US curbs on China

Shares in major Asian computer chipmakers have slumped after the US announced tough new measures to restrict sales of technology to China.

The US said it will ban American firms from selling certain chips used for supercomputers and artificial intelligence to Chinese firms.

The rules, which were announced on Friday, also target sales from non-US companies that use American equipment.

Technology firms are also seeing demand fall as the global economy slows.

On Tuesday, shares in Taiwanese chipmaker TSMC tumbled more than 8%, Tokyo Electron in Japan fell 5.5% and South Korea’s Samsung Electronics lost 1.4%.

The falls came after stock markets in Taiwan, Japan and South Korea reopened after being closed for public holidays on Monday.

Elsewhere in Asia, shares in China’s biggest chipmaker SMIC fell by 4% in Hong Kong.

US ramps up curbs on chip sales to China

US bars tech firms from building China factories

Under the regulations US companies must apply for a licence to supply Chinese chipmakers with equipment that can produce more advanced chips.

Washington said the rules were aimed at curbing Chinese military and technological advances.

The measures, some of which take effect immediately, mark one of the biggest shifts in US policy toward exporting technology to China in decades.

In the US on Monday, the technology-heavy Nasdaq index closed at its lowest level since July 2020 as shares in chipmakers Intel, Nvidia, Qualcomm and Advanced Micro Devices fell.

Technology shares around the world have also been hit in recent weeks by lower demand for electronic products ranging from computers to smartphones.

On Friday, South Korean technology giant Samsung warned of a 32% slide in its profits.

The world’s biggest maker of smartphones said profits from its microprocessor making business suffered as global prices of memory chips plunged due to weakening demand for consumer electronics.

Nomura research analysts Sonal Varma and Si Ying Toh said “The chip downturn suggests a deeper export decline lies ahead.”

“So far, export growth has already turned negative in September in India, but the evidence is growing that export growth across more Asian economies will turn negative in Q4,” they said in a note on Tuesday.

Source:[https://www.bbc.co.uk/news/business-63210329](http://)

Armco IT: IT Support and Managed Services for Businesses Across York, North and East Yorkshire

There’s nothing we love more than seeing Yorkshire businesses flourish by harnessing the power of IT.  Our team of dedicated engineers stands ready to help you overcome any technical challenge and deliver tailored solutions that help your business meet its goals and growth ambitions. From our base in Malton, we deliver proactive IT support and services across York, North and East Yorkshire.  We have a strong track record in delivering impactful IT to clients across a wide range of sectors, including manufacturing, design and insurance, among many others. We focus on maintaining, optimising and securing your digital estate, so you can focus on the growth and success of your business. Contact our team and let us start our journey together today.

Share this post