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ASML Shares Surge 11% on Report of Exemption from U.S. Semiconductor Curbs

Jul 31, 2024, 08:40 AM

Shares of ASML surged after reports indicated that the company, along with Tokyo Electron, will be exempt from new U.S. semiconductor export restrictions to China. According to Reuters, the U.S. plans to exclude certain allies, including the Netherlands, Japan, and South Korea, from these curbs. The rule is still in draft form and subject to change. ASML shares rose by up to 11% following the news, with some reports noting increases of 7% and 10%.