SMIC shares hit after US tightens controls on top China chipmaker

Suppliers will need licenses to ship equipment to company seen as risk by Washington

20200928 SMIC logo

SMIC is facing increased pressure from the U.S., which wants its suppliers to obtain licenses. © Getty Images

CHENG TING-FANG, Nikkei staff writer

TAIPEI -- Shares in Semiconductor Manufacturing International Co. fell sharply on Monday after the U.S. tightened controls for suppliers to the Chinese chipmaker, exposing the company as the latest target of Washington's attempt to rein in China's tech ambitions.

SMIC shares dropped nearly 7% in Hong Kong, while its Shanghai-listed shares slumped more than 6%, taking their decline to 40% since early August.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.