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Trade war

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

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.

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