NEWS: ASML shares jumped more than 4% on Thursday (November 28)
Its peers in the European computer chip equipment sector also rose.
Investors were excited by Bloomberg’s report on impending US restrictions on the Chinese semiconductor industry.
It said they may be less severe than expected.
ASML’s competitors were also in early trade, with their shares among the top performers on the European benchmark STOXX 600.
The Bloomberg report cited unnamed sources, which said that major Chinese memory chip maker ChangXin Memory Technologies will not be subject to US trade restrictions.
Again, the timing and content of the election is uncertain.
The US Commerce Department oversees US restrictions on Chinese exports.
It is expected to release the new policy after the Thanksgiving holiday.
ASML is a major supplier of semiconductor manufacturing equipment and declined to comment.
The company recently said it expects sales of its equipment in China to fall to a fifth of total sales next year.
That’s down from nearly 50% over the past six quarters.