Heurist Finance

Chinese chip stocks hit one-year low on US sanctions report

Bloomberg · 3 hours ago
NVDA
Chinese chip stocks hit one-year low on US sanctions report
  • The CSI 300 Index dropped as much as 2.4% on Monday, touching a one-year low.
  • Chipmakers Cambricon Technologies and GigaDevice Semiconductor and optical companies Zhongji Innolight and Eoptolink were among the top decliners, each down at least 5%.
  • The chip-heavy Star50 gauge fell the most in a month.
  • The selloff followed a report on Chinese approval of Nvidia Corp.'s new chip purchases and proposed US sanctions on foreign optical producers.

Quotes

“Chinese shares touched a one-year low, led by a selloff in technology firms after a report that authorities may allow purchases of Nvidia Corp.’s new chips and proposed US sanctions on foreign optical producers.”— Bloomberg
“The onshore benchmark CSI 300 Index dropped as much as 2.4% on Monday.”— Bloomberg
“The chip-heavy Star50 gauge fell the most in a month.”— Bloomberg

Sources