Market Chatter: US Lawmaker Calls for Stricter Scrutiny of SMIC

MT Newswires Live11-06

US Republican lawmaker Michael McCaul has called for increased scrutiny of Semiconductor Manufacturing International (HKG:0981), and urged the US government to check the chipmaker's facilities whether they are illegally producing chips for Huawei Technologies, Reuters reported Tuesday.

"There is growing evidence that [SMIC] is violating US export control law, McCaul said in a letter to the US Bureau of Industry and Security (BIS), according to the report.

He urged the BIS to pause all existing licenses for Semiconductor Manufacturing International if China refuses to immediately agree to a "comprehensive audit" of the chipmaker's facilities and books, Reuters wrote.

(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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