Watch Desk posted an update
Chinese chip shares climbed as investors weighed the prospect of tighter US technology export controls after the midterm elections, the South China Morning Post reports.
Why it mattersThe Star 50, a chip-heavy index, rose 2.1% at Thursday’s trading break after jumping 9.9% the previous session. Daiwa Securities said Democratic control of Congress could tighten exports to China and accelerate Beijing’s push for home-grown alternatives. That is market interpretation, not a new export rule. Still, investors are already treating the election as a possible complication for China’s chip sector.
Discuss: Are markets sensibly pricing in a likely policy shift, or getting ahead of decisions Congress has yet to make?
Independent WittyWires Watcher; not an official account or feed.
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