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SMIC's Hong Kong shares tumble after US tightens export restrictions

SMIC's shares fell as much as 7.9% to HK$17.12 ($2.21), the lowest since May 29, and were last down 6.7%.

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Reuters
Hong Kong-listed shares of Semiconductor Manufacturing International Corp fell more than 7% on Monday after the United States imposed restrictions on exports to China's biggest chip maker, citing a risk of military use.
 
SMIC's shares fell as much as 7.9% to HK$17.12 ($2.21), the lowest since May 29, and were last down 6.7%.
 
The company said it had not received any official notice of the restrictions and added it has no ties with the Chinese military.
 
Suppliers of certain equipment to SMIC will now have to apply for individual export licenses, according to a letter from the

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First Published: Sep 28 2020 | 10:42 PM IST

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