Sai Microelectronics falls as Germany blocks Chinese stake in two chipmakers

Elmos Semiconductor SE

10/11/2022 03:10

** Shenzhen-listed shares of Sai Microelectronics Inc
 300456.SZ  fall as much as 8.7% to 15.79 yuan, their biggest
intraday pct drop since April 25 
    ** The German government on Wednesday blocked prospective
Chinese investment in two domestic semiconductor producers after
the moves raised concerns over national security and the flow of
sensitive technological know-how to Beijing  urn:newsml:reuters.com:*:nL8N3253EF
    ** The government said it had vetoed the takeover of the
chip factory of the Dortmund-based company Elmos  ELGG.DE  by
Silex, a Swedish company that is a subsidiary of Chinese group
Sai Microelectronics  300456.SZ 
    ** Beijing-based Sai Microelectronics said it "deeply
regrets" the decision and will study the details to decide on
any next steps  urn:newsml:reuters.com:*:nL4N32601U
    ** As of last close, the Shenzhen-listed stock down 29.6%
this year
    ** China's blue-chip CSI 300 Index  .CSI300  eases 0.8%, 
Shanghai Composite Index  .SSEC  slips 0.5%, while semiconductor
companies  .CSIH30184  fall 1.6% 
    ** In Hong Kong, Hang Seng sub-index tracking information
technology firms  .HSCIIT  drops 3%, the Hang Seng Tech Index
 .HSTECH  falls 3.1%, and Hang Seng Index  .HSI  slips 2.3%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))