Asian chip stocks rise despite new U.S. export controls on China

Asian chip stocks mostly rose on Tuesday, despite new U.S. export controls on semiconductor sales to China. The Biden administration's measures target high-end chip production, aiming to limit China's military technology capabilities. Taiwan Semiconductor Manufacturing Company saw a 2.42% increase in shares. Japanese firms like Tokyo Electron and Lasertec also gained, while South Korean companies Samsung and SK Hynix rose 0.9% and 1.8%, respectively. The U.S. Department of Commerce added 140 companies to its export control list, including major Chinese firms. New restrictions also cover manufacturing equipment and software tools for semiconductor development.