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Samsung and SK Hynix Shares Plunge Amid U.S. Chip Export Restrictions
Samsung and SK Hynix Shares Plunge Amid U.S. Chip Export Restrictions
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BTCCSquare news:
Samsung Electronics and SK Hynix faced significant stock declines following tightened U.S. regulations on semiconductor exports to China. Shares of Samsung dropped over 3% to 67,600 KRW, while SK Hynix fell nearly 5% to 256,250 KRW. The U.S. Department of Commerce's Bureau of Industry and Security announced stricter controls, complicating equipment shipments to Chinese facilities.
Both companies rely heavily on Chinese production, with Samsung manufacturing 40% of its NAND flash memory in Xi'an and SK Hynix producing 20% of its NAND in Dalian and 40% of its DRAM in Wuxi. The Biden administration had previously allowed them to operate under validated end user (VEU) rules, but the TRUMP administration now seeks to overturn these provisions.
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