US officials say that China's top chipmaker SMIC (981 HK) provided chipmaking technology to Iran's military
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Iranian Revolutionary Guard says they targeted oil tanks and depots and an Israeli army site in Ashdod, according to Al Jazeera
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US officials say that China's top chipmaker SMIC (981 HK) provided chipmaking technology to Iran's military
[MARKET UPDATE] Asia-Pac stocks begin lower following the tech and comms-led selling stateside, with the regional indices pressured despite Trump's 10-day extension to the Strait of Hormuz deadline
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On the Newsquawk feed at , 20 minutes before this page.
Context
The news that China's top chipmaker SMIC has allegedly supplied chipmaking technology to Iran's military presents significant geopolitical risks. This escalates tensions between the U.S. and China, potentially leading to more sanctions and trade restrictions which could impact supply chains and commodity markets. In the immediate term, the implications for energy markets, particularly oil, may be pronounced as fears of further sanctions could cause volatility across various asset classes.
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