China’s Top Chipmaker Tumbles After Joining Huawei on Blacklist
- SMIC warns advanced chip research to be affected by new curbs
- U.S. has cited national security and human rights concerns
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Semiconductor Manufacturing International Corp., China’s largest chipmaker, saw its shares fall as much as 4.8% in Hong Kong Monday after warning that its inclusion in a U.S. blacklist will have “major adverse impact” on the development of advanced technology.
Research and development of 10-nanometer chips and more sophisticated technologies will be affected, though the blacklist won’t have significant impact on SMIC’s operations and finances in the short term, the company said in a statement to the Shanghai Stock Exchange.