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us imposes new export restrictions on china's semiconductor industry
The U.S. is set to impose new export restrictions on China's semiconductor industry, targeting 140 companies, including key chip toolmakers like Naura Technology Group and Piotech. This crackdown aims to hinder China's chipmaking capabilities, particularly in advanced memory chips and AI applications, as the Biden administration seeks to bolster national security ahead of the upcoming Trump administration. The measures will also affect foreign manufacturers, expanding U.S. control over chipmaking equipment exports to China.
asia pacific markets poised for gains ahead of key economic data
Asia-Pacific markets are poised for a mostly positive start as investors anticipate key economic data from Japan, South Korea, and China. China's manufacturing PMI for November rose to 50.3, surpassing expectations, while non-manufacturing PMI dipped to 50.0. In the U.S., the S&P 500 and Dow Jones reached new highs, buoyed by strong chip stocks and expectations of market deregulation under a potential second Trump administration.
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