ASML Shares Surge Amidst US-China Export Restriction Relief

Shares in ASML, a leading manufacturer of computer chip equipment, saw a significant rise after a Reuters report suggested it will largely avoid new U.S.-China export restrictions. The U.S. plans to exclude allies like the Netherlands from certain restrictions, easing market concerns for companies like ASML.

Shares in ASML, the largest maker of equipment used to manufacture computer chips, surged on Wednesday after a Reuters report suggested that it would largely be spared from the brunt of imminent U.S.-China export restrictions.

The report indicated that the United States would exempt allies, including the Netherlands—where ASML is headquartered—from new limitations on equipment sales to several Chinese chipmaking facilities. By 0822GMT, shares were up by 6.2%, trading at 855.20.

'Today's news ... definitely alleviates the market's concerns as ASML had nearly half of its sales from China in the first half of 2024,' said Kevin Wang of Mizuho Securities.

(With inputs from agencies.)