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12 minutes ago

The Dutch government partially revoked ASML's chip equipment export license to China

Dutch government Semiconductor equipment maker ASML has partially revoked its export license to China for two of its systems used to make advanced chips.

“The license to export NXT:2050i and NXT:2100i lithography systems in 2023 was recently partially revoked by the Dutch government, affecting a limited number of customers in China,” ASML said in a statement.

NXT:2050i And NXT:2100i Deep UV lithography machines used in the mass production of more advanced logic and memory chips.

The company said it does not expect the move to have a material impact on its financial outlook for 2023.

ASML has been restricted by the Dutch government from exporting its ultra-violet lithography machines to China in an attempt to control China's chip-making technology. ASML has not yet shipped equipment to China.

– Sheila Chiang

An hour ago

Caixin China December manufacturing PMI comes in at 50.8

A private survey showed manufacturing activity in China expanded in December, contradicting a similar survey by the country's statistics bureau that reported a contraction.

The Caixin Manufacturing Purchasing Managers' Index stood at 50.8 in December. A publication Tuesday, following a reading of 50.7 in November. China's official PMI fell to 49.0 in December from 49.4 in the previous month, according to the country's National Bureau of Statistics. A Sunday publication.

A PMI reading above 50 indicates expansion in activity, while a reading below that level indicates contraction.

— Clement Don

3 hours before

China's factory activity contraction deepened in December

China's manufacturing activity shrank further in December 2023, a sign that more policy support is needed to revive its economy.

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Official data China's manufacturing purchasing managers' index, released at the weekend, stood at 49 in December, a third straight month of contraction and above a Reuters poll forecast of 49.5.

A PMI reading below 50 indicates a contraction.

December's PMI was the sharpest contraction in manufacturing since June 2023, falling further from November's reading of 49.40.

The Caixin Production Survey for December is due later in the day.

– Shreyashi Sanyal

3 hours before

Australia's factory activity shrinks fastest since May 2020: Judo Bank

According to independent surveys by Judo Bank, Australia's factory activity in December saw its sharpest contraction since May 2020.

The nation's manufacturing purchasing managers' index fell to 47.6 in December from 47.7 in November and marked its 10th monthly contraction.

In its release, Incoming new orders for Australian manufactured goods fell for a 13th consecutive month, the bank wrote, as demand from the country's manufacturing sector weakened further.

The bank said this was due to softer economic conditions and pressure from higher interest rates, as well as lower foreign demand.

– Lim Hui Jee

3 hours before

CNBC Pro: Time to invest in alternative assets? The benefits are not so certain

From family offices to financial advisers and beyond, interest in alternative assets appears to be growing – but the benefits seem mixed on whether retail investors should invest.

For Caesar Sengupta, CEO of financial services firm Arta Finance, there is “incredible value in the private markets” and assets should not be overlooked.

Elsewhere, Steen Jacobsen, Saxo's chief investment officer, argues that retail investors should exercise caution when engaging in alternatives.

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“I think you have to be more than a private retail investor to get into these — my advice is, even if it's priced right, don't buy it,” he said, explaining which asset classes he's targeting for 2024.

CNBC Pro subscribers can read more here.

– Amala Balakrishna

3 hours before

CNBC Pro: Goldman Sachs, 3 Big Oil Companies' Screen Is Attractive – Each Up 33%

Energy stocks may have had a tough year, but Goldman Sachs sees promise in European Big Oil — naming integrated oil stocks to play up the theme in the new year.

“We are currently at a turning point as EU Big Oils are starting to outperform US Big Oils, potentially closing their 40% valuation gap against their US peers,” analysts at the investment bank said.

Investment bank bullishness on Big Oil also boosted oil prices as major shipping lines and oil transporters halted transit through the Red Sea. The oil outlook for 2024 is so bearish that the International Energy Agency expects the recession to continue next year.

Even so, “EU big oils are now being screened as attractive for enhanced buyback programs that have led to double-digit cash returns for shareholders,” noted Goldman.

CNBC Pro subscribers can read more here.

– Amala Balakrishna

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