May 18, 2020 / 12:29 AM / a month ago

SK Hynix shares fall 3% after U.S. tightens rule to curb Huawei's chip supply

SEOUL, May 18 (Reuters) - Shares of SK Hynix, the world’s No.2 memory chip maker after Samsung Electronics , fell 3.2% on Monday after the United States on Friday moved to curb shipments of semiconductors to Huawei from global chipmakers.

Samsung Electronics shares were down 0.2%, while the wider market was largely flat.

The U.S. Commerce Department said it had amended an export rule and, under the change, foreign companies that use U.S. chipmaking equipment will be required to obtain a U.S. license before supplying certain chips to China’s Huawei.

Huawei Technologies is the world’s No.2 smartphone maker. (Reporting by Hyunjoo Jin and Heekyong Yang; Editing by Himani Sarkar)

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