Asian stocks rose despite new US chip production ban on China

Asian stocks rose on Tuesday despite the US announcing new restrictions on exports of semiconductor manufacturing equipment to Chinese companies.

The region’s largest chipmakers, which do significant business from China, are divided. Taiwan Semiconductor Manufacturing Co. rose 1.9%. SK Hynix rose 3.7% and Samsung Electronics fell 0.2%.

China’s CSI 300 underperformed in the region as some of the country’s tech companies faltered.

Naura Technology Group, a state-owned chipmaker, contributed the most to the index’s decline, falling 4% after being added to the US entity list. Dawning Information Industries, which makes supercomputers, fell 4.5%.