ASML gains even as defense ministry told gov't in 2020 to disallow exports to China
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ASML Holdings (NASDAQ:ASML) gained more than 2% on Friday as it was reported the Dutch defense ministry told the government in 2020 to disallow exports of the company's semiconductor equipment to China.
According to the Het Financieele Dagblad, the defense ministry said the perspective of the country's military was such as that "in the mid-to-long-term it is of importance ... that ASML not be granted any export permit for the delivery of EUV machines to China and that this unique technology be protected as much as possible."
ASML's (ASML) extreme ultraviolet, or EUV, machines use light wavelengths to print complex designs on chips. They have been the subject of scrutiny from the Biden Administration over concerns over the rise of China's semiconductor industry and the potential for uses in military applications.
Het Financieele Dagblad obtained the information via a Freedom of Information Act.
Netherlands-based ASML (ASML) did not immediately respond to a request for comment from Seeking Alpha.
In December, the Netherlands - ASML's (ASML) home country - and Japan reportedly agreed in principle to join the U.S. in cracking down on exporting semiconductor equipment machinery to China.
Prior to that, Dutch trade minister Liesje Schreinemacher said the European country was speaking with the U.S. to discuss the new export controls for semiconductor equipment to China, adding "national security interest is of the utmost importance."
Late last year, ASML (ASML) CEO Peter Wennink said if Chinese semiconductor companies were not able to expand capacity past current metrics, it would not alter the chip equipment firm's outlook for 2030 "that much."