Chinese Semiconductor Stocks Nosedive as U.S. Tightens Chip Export Controls

The U.S government’s escalated chip export restrictions has triggered a sell-off of onshore Chinese semiconductor stocks as they are expected to prevent domestic chip manufacturers and designers from accessing key components.

The Biden administration issued a series of policies last week aimed at slowing Beijing’s push to develop its own chip industry, adding more companies to a trade blacklist and imposing new restrictions on related technologies.