China, HK stock markets plunged Monday, 10 October 2022 - US chip restrictions cited

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China, HK stock markets plunged Monday, 10 October 2022 - US chip restrictions cited

<p>On Friday the US announced even tighter restrictions on the sale of semiconductors and chipmaking equipment to China.</p><ul><li>measures included the requirement that advanced computing chips, including those used in artificial intelligence and high-performance computing, and production equipment cannot be sold to China without a license</li></ul><p>In effect this means that prohibiting the shipment of semiconductor manufacturing equipment and advanced chips to Chinese companies. How it impacts foreign companies operating in China remains to be seen but apparently an assessment will be made on a case-by-case basis.</p><p>China shares dropped, hard. The Shanghai Composite is down around 1.6%. HK's Hang Seng is down around 2.8%.</p><p>Shanghai Composite weekly chart:</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: China, HK stock markets plunged Monday, 10 October 2022 - US chip restrictions cited

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