Latest news with #ChangXinMemory
Zawya
16-05-2025
- Business
- Zawya
China, HK stocks dip with earnings, US tech restrictions in focus
HONG KONG - Chinese and Hong Kong stocks dropped on Friday, as market sentiment came under pressure from renewed U.S.-China tech tensions and a disappointing earnings report from Alibaba. Both markets ended the week positively, with the Hang Seng Index posting a fifth consecutive weekly gain. ** At the close, the Shanghai Composite index was down 0.4%; while China's blue-chip CSI300 index fell 0.46%. ** Liquor and insurance companies led the decline, both dropping 1.4%. ** In Hong Kong, the Hang Seng Index retreated 0.46%. ** Index heavyweight Alibaba Group lost more than 4% after the e-commerce giant posted quarterly revenue below analysts' estimates on Thursday. ** On the geopolitical front, the U.S. Commerce Department is considering placing more Chinese companies, including ChangXin Memory (CXMT), on its restricted export list, a person familiar with the matter told Reuters. ** The Bureau of Industry and Security is also looking at adding subsidiaries of Semiconductor Manufacturing International Corporation and Yangtze Memory Technologies Co to the "Entity List", the source said. ** "Market focus has shifted to the U.S.-China competition on other fields, such as semiconductor and healthcare, after the two countries significantly reduced tariffs for each other," said Dickie Wong, executive director of research at Kingston Securities. ** While U.S.-China tariff truce is a positive surprise to the market, a durable resolution remains challenging, given the complex bilateral relationship, Morgan Stanley analysts said in a note, adding sentiment on mainland A-shares edged down this week with lower trading volume. ** The smaller Shenzhen index ended up 0.18% and the start-up board ChiNext Composite index was weaker by 0.186%. ** Hong Kong's Hang Seng Tech edged down 0.3% as a 13% jump in gaming firm Netease on strong earnings partially offset the loss in Alibaba.
Reuters
15-05-2025
- Business
- Reuters
US eyes placing more Chinese companies on 'entity list,' FT reports
WASHINGTON, May 15 (Reuters) - The U.S. Commerce Department is considering placing more Chinese companies, including ChangXin Memory (CXMT), on its "Entity List," the Financial Times reported on Thursday, citing five people familiar. The newspaper, citing several of the people, added that the Bureau of Industry and Security had drafted a list that also included subsidiaries of Semiconductor Manufacturing International Corporation and Yangtze Memory Technologies Co. Timing of move has been complicated by a recent trade deal between the U.S. and China, according to the Financial Times.
