ASML shares pop 7% after report that U.S. will exempt allies from new China chip restrictions

Shares of Dutch firm ASML surged up to 10% following a report indicating a possible exemption from expanded export restrictions on chipmaking gear to China. The US is reportedly considering expanding the foreign direct product rule, but countries like Japan, the Netherlands, and South Korea, which export key chipmaking equipment, would be excluded. Conversely, exports to China from countries including Israel, Taiwan, Singapore, and Malaysia would be impacted by the US rule. ASML’s shares rose by around 7% in response to the report. Semiconductor equipment maker Tokyo Electron also saw its shares close more than 7% higher. South Korean memory chip firms Samsung and SK Hynix also experienced gains following the report.