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 of Taiwanese chipmaker TSMC tumbled 7.7%, South Korea’s Samsung Electronics was 2.3% lower, while Tokyo Electron in Japan fell by 5.5%.

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

Elsewhere in Asia, shares in China’s biggest chipmaker SMIC fell by 1.7% in Hong Kong.

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

Washington said the…

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This article was written by and originally published on www.bbc.co.uk