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Market Chatter: US Halts Chip Equipment Shipments to Hua Hong; Shanghai Shares Drop 5%

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-- The U.S. Department of Commerce has ordered equipment suppliers, including Lam Research, Applied Materials, and KLA, to immediately stop shipping advanced tools to Hua Hong Semiconductor (HKG:1347, SHA:688347), Reuters reported Tuesday, citing two people familiar with the matter.

The move targets Hua Hong facilities that U.S. officials believe may produce China's most sophisticated chips, according to the report.

Last month, Reuters reported, citing sources, that Hua Hong's contract chipmaker Huali Microelectronics is preparing to launch its 7-nanometer chipmaking process at its Shanghai plant.

The Commerce Department's letters to suppliers also seek to prevent shipments to Huali, sources told Reuters.

Hua Hong's shares fell 5% in Shanghai and 4% in Hong Kong Wednesday morning.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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