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☆ EU trade chief promises more 'assertive' approach to China as deficit soars
▼ + stars: | 2023-09-25 | by ( Laura He | ) edition.cnn.com time to read: +4 min

And we will be more assertive in tackling unfairness.”The trade chief’s visit comes as tensions flare between the bloc and China over trade imbalances and geopolitical issues. The bloc’s trade deficit with China hit 396 billion euros ($421 billion) last year, which was “the highest in the history of mankind,” Jorge Toledo, the EU ambassador to China, was quoted by Reuters as saying. Dombrovskis said China’s new foreign relations law and its newly broadened counter-espionage law, in particular, were of “great concern” to European business. Two months later, it unveiled a sweeping foreign relations law enshrining its right to impose “countermeasures” against actions that it deems a threat. Russia has become increasingly dependent on China since the Kremlin ordered the full-scale invasion of Ukraine in February 2022.

Persons: Hong Kong CNN —, Valdis Dombrovskis, “, ” Dombrovskis, ” Jorge Toledo, Dombrovskis, ”, enshrining, Vladimir Putin, — Lucas Liliholm, Manveena Suri Organizations: Hong Kong CNN, Union, Tsinghua University, EU, China, Reuters, European Union, West, EU Chamber of Commerce, Kremlin Locations: China, Hong Kong, Beijing, Europe, EU, United States, Ukraine, Russia

BEIJING/SHANGHAI, Sept 25 (Reuters) - Huawei Technologies (HWT.UL) kicked off a product launch event on Monday by thanking China for its support amid expectations the tech giant would later reveal more details on its latest Mate 60 smartphone series. Huawei launched the Mate 60 smartphone series last month with no pre-marketing events and has stayed mostly mum on its full capabilities. Users and analysts who bought the Mate 60 Pro said it had a Chinese-made chip and was capable of 5G speeds. He also said the company was working overtime and urgently manufacturing as many Mate 60 Pro smartphones as it could. While he did not discuss the Mate 60 smartphone series in detail, he announced the roll-out of a new ultra, high-end brand called 'Ultimate Design', whose products include a Mate 60 RS smartphone and a watch.

Persons: Yu Chengdong, Meng Wanzhou's, Washington . Meng, Ren Zhengfei, Yelin Mo, Brenda Goh, Himani Sarkar Organizations: Huawei Technologies, Huawei, Thomson Locations: BEIJING, SHANGHAI, China, Iran, U.S, Beijing, Washington

☆ US firm AXT says China unit has initial export permits for key chipmaking metals
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The elements of Gallium and Germanium are seen on a periodic table, in this illustration picture taken on July 6, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsBEIJING, Sept 22 (Reuters) - U.S. semiconductor wafer maker AXT Inc (AXTI.O) said its Chinese subsidiary Beijing Tongmei had received initial export permits for shipping gallium arsenide and germanium substrates - compounds key to chipmaking - to certain customers. China's Ministry of Commerce said on Thursday that some Chinese companies had obtained export licences for gallium and germanium products, with more still being reviewed. This came after China's exports of germanium and gallium items plunged in August, the first month of the export controls，customs data showed on Wednesday. There were also no exports of wrought gallium products in August, compared to 5.15 tons in July and 7.67 tons in August in 2022, the data showed.

Persons: Florence Lo, Beijing Tongmei, Tongmei, Amy Lv, Dominique Patton, Tom Hogue, Stephen Coates Organizations: REUTERS, Rights, AXT Inc, Beijing, China's Ministry of Commerce, China, Thomson Locations: Rights BEIJING, . California, China, Beijing, United States, Washington

☆ Nvidia, other US chip stocks stall over valuation, industry worries
▼ + stars: | 2023-09-21 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +4 min

The nVIDIA booth is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. Chip stocks soared to start the year, with the Philadelphia SE Semiconductor index (.SOX) rising over 50% through July. With "some of the names that really have catapulted to the top, now you are starting to question valuations,” Mahn said. Of course, many chip stocks are sitting on substantial gains for the year and this month may only be a temporary setback. “I do believe there are opportunities in semiconductor stocks going forward," Mahn said.

Persons: Mike Blake, “, Lip, LSEG Datastream, Kevin Mahn, ” Mahn, Taiwan's, chipmaker, Mahn, Lewis Krauskopf, Ira Iosebashvili, Andrea Ricci Organizations: nVIDIA, REUTERS, Nvidia, Philadelphia, Semiconductor, Wealth Management, Hennion, Walsh Asset Management, Reuters, Federal Reserve, Lam Research, Applied, KLA Corp, Arm Holdings, Devices, Broadcom, Thomson Locations: Los Angeles , California, U.S, United States, China, Washington

At Kokusai's indicative price of 1,890 yen per share, the company will offer 111.2 billion yen ($749.88 million) worth of shares and have a market value of 435.5 billion yen. A successful listing would follow the blockbuster New York IPO of SoftBank-owned chip designer Arm , which investors hoped would lead to a wave of stock market launches. IPO activity has remained strong in Japan, where the stock market is at 33-year highs and interest rates ultra low. Kokusai reported operating profit fell by a fifth to 56 billion yen in the year ended March compared to the same period a year earlier. Sales were roughly flat at 245.7 billion yen.

Persons: Miho Uranaka, Kokusai, chipmaker TSMC, TW, Sam Nussey, Makiko Yamazaki, Christopher Cushing Organizations: REUTERS, KKR, Materials, Kokusai, Tokyo Stock Exchange, Industry, Reuters, Marelli Holdings, Thomson Locations: Tokyo, Japan, TOKYO, China, York

☆ China's gallium, germanium exports drop to zero as tech war simmers
▼ + stars: | 2023-09-21 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s exports of two rare minerals essential for manufacturing semiconductors fell to zero in August, a month after Beijing imposed curbs on sales overseas, citing national security. In July, the country exported 5.15 metric tons of forged gallium products and 8.1 metric tons of forged germanium products. The curbs are indicative of China’s apparent willingness to retaliate against US export controls, despite concerns about economic growth, as a tech war simmers. Prices for gallium have fallen in China, as export controls caused inventories to pile up. The model is powered by an advanced chip, which was created despite US sanctions intended to cut the Chinese tech giant off from such technology.

Persons: Biden Organizations: Hong Kong CNN —, Eurasia Group, China's Zhejiang University, China's Zhejiang University Hangzhou International Science, Innovation, Publishing, Shanghai Metal, Micron, Huawei, Semiconductor Manufacturing International Corp, Jefferies, China Locations: China, Hong Kong, Beijing, China's Zhejiang University Hangzhou, Shanghai, United States, Japan, Netherlands, Washington

☆ China exported no germanium, gallium in Aug due to export curbs
▼ + stars: | 2023-09-20 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

BEIJING (Reuters) - China’s exports of germanium and gallium products in August plunged to zero，customs data showed on Wednesday, due to new export controls on the two chipmaking metals. There were also no exports of wrought gallium products in August. In July, China announced restrictions on the export of eight gallium and six germanium products starting Aug. 1, the latest salvo in an escalating war between Beijing and Washington over access to materials used in making high-tech microchips. Under the new rules, exporters of germanium and gallium products now need to obtain an export licence for dual-use items and technologies, meaning those with potential military and civilian applications. Chinese spot gallium prices slid last month as stocks piled up in the domestic market due to the export controls and subdued demand.

Persons: Florence Lo Organizations: REUTERS, Beijing, Shanghai Metals Locations: BEIJING, China, Beijing, Washington, Shanghai

☆ China exports zero germanium and gallium in August as national security curbs bite
▼ + stars: | 2023-09-20 | by ( Clement Tan | ) www.cnbc.com time to read: 1 min

China did not export any germanium and gallium products in August, after export curbs kicked into effect at the start of that month for these two chipmaking metals. Customs data on Wednesday showed that China exported zero germanium product last month, down from 8.63 metric tons in July, Reuters reported. July germanium exports were more than double that of June's, as purchases spiked ahead of the effective date for the curbs that are part of China's escalating war with the U.S. and its allies over access to strategic technology. There were also no exports of gallium products in August, compared to the 5.15 tons exported in July, customs data showed. Germanium and gallium are not found naturally, and are by-products of the refineries of other metals.

Organizations: Reuters, U.S Locations: China

☆ CNBC Daily Open: High rates are still hobbling IPOs
▼ + stars: | 2023-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Downbeat marketsU.S. markets dipped and U.S. Treasury yields rose Tuesday as investors braced themselves for the outcome of the Federal Reserve's meeting. At its open, Instacart popped 40% to hit $42, but pared gains as investors sold off to lock in their initial gains. Analysts who once predicted China would become the biggest economy globally are perplexed as to why the country's blunting its own growth.

Persons: Kospi, Hong, Instacart, Fereidun Fesharaki, Wood Mackenzie Organizations: CNBC, Treasury, Analysts, Global Locations: Asia, Pacific, China

☆ Tesla supplier Hota to build first US factory in New Mexico
▼ + stars: | 2023-09-20 | by ( Sarah Wu | ) www.reuters.com time to read: +2 min

TAIPEI, Sept 20 (Reuters) - Tesla supplier Hota Industrial Mfg. Co (1536.TW) will invest $99 million to build its first plant outside of Asia in the U.S. state of New Mexico, the Taiwanese company said on Wednesday, citing greater emphasis on regional production in supply chains. Hota, which makes gears and other auto components primarily in Taiwan, said it would begin construction on the factory in Santa Teresa, near the U.S. border with Mexico, early next year and mass production in 2025. Hota is a key supplier to Tesla (TSLA.O), GM (GM.N) and Ford (F.N). James Huang, chairman of the Taiwan External Trade Development Council, said EVs would be an important focus for bilateral trade and especially in New Mexico.

Persons: David Shen, Shen, Michelle Lujan Grisham, TSMC, James Huang, EVs, Huang, Sarah Wu, Mark Potter Organizations: Industrial Mfg ., U.S ., New, Reuters, GM, Ford, Taiwan External Trade Development Council, U.S, Thomson Locations: TAIPEI, Asia, U.S ., New Mexico, Taiwan, Santa Teresa, U.S, Mexico, China, United States, Taipei, American, Arizona

☆ US has no evidence Huawei can mass produce advanced smartphones
▼ + stars: | 2023-09-19 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Aly Song/File Photo Acquire Licensing RightsWASHINGTON, Sept 19 (Reuters) - The U.S. has no evidence that Chinese manufacturer Huawei can produce smartphones with advanced chips in large volume, U.S. Commerce Secretary Gina Raimondo said on Tuesday. "We don't have any evidence that they can manufacture seven-nanometer (chips) at scale," Raimondo said at a U.S. House hearing, referencing an advanced chip. Raimondo told the House Science Committee hearing she was upset by the advanced Huawei smartphone report. Some Republicans think the Commerce Department should end all technology exports to Huawei and SMIC. Republican Representative Darrell Issa said at the hearing Raimondo was in China when the new Huawei phone was announced.

Persons: Gina Raimondo, Aly, Raimondo, Darrell Issa, Issa, Jake Sullivan, David Shepardson, Chizu Nomiyama, Josie Kao Organizations: Boeing Shanghai Aviation Services, Shanghai Pudong International Airport, REUTERS, Rights, U.S, Huawei, . Commerce, Semiconductor Manufacturing International Corp, HK, Commerce Department, House, Republicans, House Foreign Affairs, Energy, Commerce, Armed Services, Republican, White, National, Thomson Locations: Shanghai Pudong, Shanghai, China, U.S

☆ Arizona governor says state in talks with TSMC on advanced packaging
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed TSMC (Taiwan Semiconductor Manufacturing Company) logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTAIPEI, Sept 19 (Reuters) - The governor of the U.S. state of Arizona said on Tuesday that the state was in talks with Taiwanese chipmaker TSMC (2330.TW) on advanced packaging. TSMC is investing $40 billion in the project, supporting Washington's plans for more chipmaking at home. Speaking during a visit to Taipei, Governor Katie Hobbs said the TSMC factory project in Arizona was going well and she was very impressed by the speed with which it has been built. Taiwan Semiconductor Manufacturing Co Ltd, the world's largest contract chipmaker, counts Apple (AAPL.O) and Nvidia (NVDA.O) among its major clients.

Persons: Dado Ruvic, TSMC, Katie Hobbs, Hobbs, I'm, it's, Sarah Wu, Ben Blanchard, Muralikumar Anantharaman, Edmund Klamann Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Rights, Taiwan Semiconductor Manufacturing Co, Apple, Nvidia, Thomson Locations: Rights TAIPEI, U.S ., Arizona, Taiwan, Taipei

☆ China's Huawei set to re-enter mid-range 5G phone market -report
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +1 min

People walk past a Huawei store with advertisements for the Mate 60 series smartphones, at a shopping mall in Beijing, China August 30, 2023. Huawei (HWT.UL) may launch a 5G version of its mid-ranged Nova around October or November, the IT Times said, citing industrial supply chain sources. Last month, Huawei rolled out the Mate 60 Pro smartphone with little advertising or prior notice. Huawei's last Nova model is constrained to 4G and retails for around 2,400 yuan($329)domestically, while the Mate 60 Pro, released in limited numbers so far, retails for 6,999 yuan. The company is expected to give more details on the Mate 60 Pro at a product launch event next week.

Persons: Yelin, David Kirton, Alexander Smith Organizations: Huawei, REUTERS, Rights, IT, IT Times, China Telecom, HK, Thomson Locations: Beijing, China, Rights SHENZHEN, U.S, Shanghai

☆ Huawei's chip breakthrough poses new threat to Apple in China — and questions for Washington
▼ + stars: | 2023-09-19 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +7 min

There is no Chinese company that can do what TSMC does. Along with Huawei, SMIC is on a U.S. trade blacklist called the Entity List. The 7nm process is seen as highly-advanced in the world of semiconductors, even though it is not the latest technology. While SMIC is able to create 7nm chips, it's unclear how efficient, profitable and sustainable that is on a bigger scale. While the yield of SMIC's 7nm process for Huawei chips is not known, it is "probably low," Kotasthane said.

Persons: Aly Song, Donald Trump, shockwaves, SMIC, Dan Hutcheson, Kotasthane Organizations: Apple, Reuters Apple, Huawei, China's, Chinese Communist Party, U.S ., Samsung, Taiwan Semiconductor Manufacturing Co, SMIC, 5G, CNBC, Takshashila, The U.S . Department of Commerce, Street, China's Ministry of Foreign Affairs, U.S Locations: Shanghai, China, U.S, Washington, . U.S, The

China’s Foreign Ministry said Beijing was “strongly dissatisfied” with Baerbock’s comments and “firmly opposes” them. “The remarks made by Germany are extremely absurd, seriously infringe on China’s political dignity, and are an open political provocation,” Chinese foreign ministry spokesperson Mao Ning said at a regular news briefing on Monday. The Chinese Foreign Ministry often leaves out content it deems sensitive from the transcripts of its regular briefings. In June, US President Joe Biden also referred to Xi as a “dictator,” sparking a fierce backlash from Beijing. As a result of this and China’s political decisions, we need to change our approach to China,” the paper said.

Persons: Xi, ”, Berlin’s, Annalena Baerbock, “, Putin, Germany’s, Patricia Flor, Mao Ning, Xi –, Joe Biden, Jiang Zemin, Mike Wallace, Jiang, Deng Xiaoping, Mao Zedong’s, Angela Merkel, Baerbock Organizations: CNN, Fox News, China’s, Ministry, Chinese Foreign Ministry, CBS, South China, Germany’s Greens Locations: China, Germany, United States, Ukraine, Beijing, Berlin, Moscow, Taiwan, South, “ China, Australian

China property woes, geopolitical tensions and ongoing strikes also stoked worries about global growth. CENTRAL BANKSGlobal central banks take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings this week. A swathe of emerging market central banks such as Turkey and South Africa will also meet. In currency markets, the dollar drifted lower with the dollar index last down a touch at 105.24 but within sight of recent six-month highs. The euro gained about 0.1% to $1.0663, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, France's, Taiwan's TSMC, Xi, James Rossiter, Rossiter, Marc Chandler, Goldman Sachs, Kazuo Ueda, Nell Mackenzie, Stella Qiu, Dhara, Philippa Fletcher, Alexander Smith Organizations: REUTERS, Staff, Societe Generale, China Evergrande, HK, Technology, Reuters, TD Securities, Japan's Nikkei, Brent, . West Texas, Federal Reserve, Bannockburn Global, CENTRAL, Global, Fed, Bank of England, Bank of Japan, Treasury, European Central Bank, Thomson Locations: Frankfurt, Germany, China, United States, Japan, Scandinavia, Switzerland, Britain, Asia, U.S, London, Bannockburn, Turkey, South Africa, Europe, SYDNEY

☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Bank of America names 2 European chip stocks as its 'top picks' into year-end
▼ + stars: | 2023-09-18 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America named European chip stocks ASM International and STMicro as its "top picks" going into the end of the year. The Wall Street bank said it continues to favor ASMI with a 521 euro ($559) price target, which represents 25% upside potential from the current share price. Bank of America's $72 price target for STM points to a 62% upside potential over the next 12 months. STM ASMXF YTD line Bank of America analysts cited "resilient pricing and secular growth drivers in silicon carbide (SiC)" as reasons the stock should benefit into year-end. Bank of America cautioned that mixed signals on smartphone demand are an issue for the semiconductor sector more broadly.

Persons: Didier Scemama, Jean, Marc Chery Organizations: of America, ASM International, " Bank, America's, Bank of America, carmakers Locations: United States, Paris

☆ Morning Bid: Dot plots, oil blots and auto strikes
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +4 min

A nighttime view of Marathon Petroleum's Los Angeles Refinery, which processes domestic & imported crude oil into gasoline, diesel fuel, and other refined petroleum products, in Carson, California, U.S., March 11, 2022. But updated quarterly economic and rate projections from its individual policymakers will map out the remainder of the year and 2024. And just like global markets have been discombobulated this month, the central bank will be grappling with low visibility and a plethora of mixed signals. Chief among the irritants for the central banks has been the rebound in crude oil price and the fading annual base effects that have flattered headline disinflation progress this year. Events to watch for on Monday:* U.S. September NAHB Housing Market Survey, July TIC data on foreign holdings of U.S. Treasuries* U.S. Treasury auctions 3- and 6-month bills* European Central Bank Board Member Fabio Panetta speaksReuters Graphics Reuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsReuters Graphics Reuters GraphicsBy Mike Dolan, editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Mike Dolan Gatecrashed, That's, Detroit's, Taiwan's, TW, chipmaker, Member Fabio Panetta, Mike Dolan, Bernadette Baum Organizations: Petroleum's, Angeles Refinery, REUTERS, U.S . Federal, Bank of England, Bank of Japan, University of Michigan's, automakers, United Auto Workers, General Motors, Ford, chipmakers, China, HK, Survey, Treasury, Central Bank, Member, Reuters Graphics Reuters, Reuters, Thomson Locations: Angeles, Carson , California, U.S, Saudi, China

☆ Wall Street tumbles, Treasury yields gain as focus turns to Fed
▼ + stars: | 2023-09-16 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The S&P 500 and the Nasdaq reversed their weekly advances, while the blue-chip Dow ended the week nominally higher. European stocks closed higher, extending a rally sparked by the European Bank signaling an end to its rate-hiking cycle, and logging a weekly gain. The pan-European STOXX 600 index (.STOXX) rose 0.23% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.63%. Emerging market stocks rose 0.33%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.58% higher, while Japan's Nikkei (.N225) rose 1.10%.

Persons: Brendan McDermid, Dow, TW, Chuck Carlson, Robert Pavlik, Sterling, Brent, Stephen Culp, Naomi Rovnick, Kevin Buckland, Nick Zieminski, Diane Craft, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Nasdaq, Semiconductor, SOX, Reuters, University of Michigan, Federal Reserve, Horizon Investment, Financial, Dakota Wealth, Dow Jones, Bank, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Hammond , Indiana, Fairfield , Connecticut, Asia, Pacific, Japan, London, Tokyo

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

The instruction by TSMC, which is grappling with delays at its $40 billion chip factory in Arizona, is aimed at controlling costs and reflects the company's growing caution about the outlook for demand, the sources said. Suppliers currently expect the delay to be short-term, the sources said, declining to be named as the information is not public. Companies affected by the instruction to delay include Dutch firm ASML (ASML.AS), which makes lithography equipment essential for high-end chipmaking, one of the sources said. ASM International (ASMI.AS), a smaller equipment firm that is also a supplier to TSMC, fell 4.2% with BE Semiconductor (BESI.AS), a packaging equipment firm, down 2.4%. CHIP CYCLE WORRIESThe Taiwanese chip giant is not alone in worrying a bounce back in demand may take longer than expected.

Persons: Dado Ruvic, TSMC, chipmaker, C.C, Wei, Peter Wennink, We've, Wennink, they're, Mark Liu, Sam Nussey, Fanny Potkin, Toby Sterling, Miyoung Kim, Stephen Coates Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Suppliers, Reuters, ASM, BE Semiconductor, Apple, Media, Huawei, Analysts, chipmaker Semiconductor Manufacturing International Corp, HK, Thomson Locations: TOKYO, SINGAPORE, AMSTERDAM, Arizona, China, Taiwan, Beijing, Washington, Tokyo, Singapore, Amsterdam

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. In the past five months the improvement has been tremendous," TSMC Chairman Mark Liu said of the Arizona project last week. The $40 billion investment in Arizona allows TSMC to add capacity outside Taiwan, where it faces constraints on land, power, water and labour. "A lot of machines cannot be shut down because it costs TSMC to recalibrate on rebooting," said a chip industry executive. While many equipment and materials makers already have global operations, to meet its exacting standards TSMC has also brought suppliers to Japan from Taiwan, the sources said.

Persons: Ann Wang, TSMC, Mark Liu, Lucy Chen, Brady Wang, Sam Nussey, Fanny Potkin, Sarah Wu, Miho Uranaka, Jamie Freed Organizations: Taiwan Semiconductor Manufacturing, REUTERS, TSMC, Reuters, Isaiah Research, Sony, Ministry, Economy, Trade, Industry, Thomson Locations: Hsinchu, Taiwan, Japan, TOKYO, SINGAPORE, TAIPEI, Arizona, Kyushu, U.S, Germany, TSMC

☆ Intel to sell 10% stake in IMS Nanofabrication to TSMC
▼ + stars: | 2023-09-12 | by ( Max A. Cherney | ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSept 12 (Reuters) - Intel (INTC.O) said on Tuesday it has agreed to sell a stake of about 10% in the IMS Nanofabrication business to Taiwan Semiconductor Manufacturing Co (2330.TW). Intel will retain majority ownership of IMS, and the transaction is expected to close in the fourth quarter. "The investment by TSMC we believe also demonstrates the excitement across the whole semiconductor manufacturing ecosystem for the significant opportunity ahead of IMS," Intel vice president of corporate development Matt Poirier said. Intel is building a contract manufacturing business called Intel Foundry Services that competes with TSMC. Intel sold a 20% stake in IMS earlier this year to Bain Capital at the same valuation.

Persons: Dado Ruvic, Matt Poirier, TSMC, Elmar Platzgummer, Platzgummer, Yuvraj Malik, Max A, Shounak Dasgupta, Louise Heavens, David Evans Organizations: REUTERS, Intel, IMS, Taiwan Semiconductor Manufacturing, Intel Foundry Services, Bain Capital, Thomson Locations: Austrian, EUV, Bengaluru, Max, San Francisco

U.S. President Joe Biden attends a meeting with Vietnam's Communist Party General Secretary Nguyen Phu Trong, at the Communist Party of Vietnam Headquarters in Hanoi, Vietnam, September 10, 2023. Deals unveiled by the White House during the trip include Vietnam Airlines' purchase of 50 Boeing 737 Max jets, in an agreement that it said was worth $7.8 billion, in line with an earlier Reuters report. The White House also announced plans by Microsoft (MSFT.O) to make a "generative AI-based solution tailored for Vietnam and emerging markets." The White House also highlighted the number of chip-related investments by U.S. firms in Vietnam, including plans by Marvell and Synopsys (SNPS.O) to build chip design centres in the country. U.S. State Secretary Antony Blinken and Vietnam's investment minister Nguyen Chi Dung chaired the meeting, which was followed by discussions with Biden and Vietnam's Prime Minister Pham Minh Chinh.

Persons: Joe Biden, Nguyen Phu Trong, Evelyn Hockstein, Joe Biden's, MoMo, Biden, Vietnam's FPT, Antony Blinken, Nguyen Chi Dung, Pham Minh Chinh, Dung, Phuong Nyugen, Nandita Bose, Francesco Guarascio @fraguarascio, Edwina Gibbs Organizations: Vietnam's Communist Party General, Communist Party of, REUTERS, Rights, Google, Intel, Marvell, Boeing, Innovation, Investment, Nasdaq, Vietnam Airlines, White, Max, Microsoft, Nvidia, Intel's, Honeywell, State, Vietnam's, Thomson Locations: Communist Party of Vietnam, Hanoi, Vietnam, Rights HANOI, chipmaking, Washington, China, Taiwan, U.S, United States

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