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China's new domestic lithography machines and CXMT's blockbuster IPO show how years of US export controls fueled the competition now hitting Sandisk and ASML.
CXMT's 466% Shanghai debut made it China's priciest listed firm and hit SanDisk, ASML and AMD, though foreign investors still can't easily own the stock.
Chip stocks slid into a bear market as memory chip shortages and a hawkish Federal Reserve outweighed still-strong AI demand across the sector.
MAS tightened Singapore's currency band again to blunt oil driven inflation risk, a move that quietly pressures the exporters and tourism trade behind its AI.