MARKETS
Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts
PUBLISHED FRI, JUN 21 2019 12:32 PM EDTUPDATED FRI, JUN 21 2019 4:00 PM EDT
Yun Li
@YUNLI626
KEY POINTS
Five more Chinese companies are banned from purchasing U.S.-made components.
The Commerce Department said the activities of these companies “pose a significant risk of being or becoming involved in activities contrary to the national security and foreign policy interests of the United States.”
Shares of U.S. chipmakers came under pressure after the announcement.
The U.S. Commerce Department has banned five more Chinese entities from buying U.S. components after blacklisting telecom giant Huawei last month.
Higon, Chengdu Haiguang Integrated Circuit, Chengdu Haiguang Microelectronics Technology, Sugon and Wuxi Jiangnan Institute of Computing Technology are the five Chinese firms added to the department’s entity list, according to a filing.
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MARKETS
Chip stocks fall after Commerce Dept bars 5 more Chinese companies from buying US parts
PUBLISHED FRI, JUN 21 2019 12:32 PM EDTUPDATED FRI, JUN 21 2019 4:00 PM EDT
Yun Li
@YUNLI626
KEY POINTS
Five more Chinese companies are banned from purchasing U.S.-made components.
The Commerce Department said the activities of these companies “pose a significant risk of being or becoming involved in activities contrary to the national security and foreign policy interests of the United States.”
Shares of U.S. chipmakers came under pressure after the announcement.
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Chip stocks fall after more China companies added to US blacklist
The U.S. Commerce Department has banned five more Chinese entities from buying U.S. components after blacklisting telecom giant Huawei last month.
Higon, Chengdu Haiguang Integrated Circuit, Chengdu Haiguang Microelectronics Technology, Sugon and Wuxi Jiangnan Institute of Computing Technology are the five Chinese firms added to the department’s entity list, according to a filing.