By Clarence LeongShares of Naura Technology Group Co. fell sharply after the U.S. Commerce Department added its subsidiary to the so-called unverified list, while Chinese chip companies were sold off after the U.S. imposed new export restrictions targeting the sector. Naura Technology's Shenzhen-listed stock fell by the 10% daily limit on Monday morning to 250.56 yuan ($35.21), extending its year-to-date losses to 28%. Naura Technology's unit, Beijing Naura Magnetoelectric Technology Co., was among 31 Chinese entities added to the Commerce Department's unverified list on Friday. Companies on the unverified list are one step away from being placed on the Commerce Department's blacklist, known as the entity list. Meanwhile, Hong Kong-listed shares of Wuxi Biologics (Cayman) Inc. rose as much as 5.8% after a unit of the pharmaceutical company was removed from the unverified list.

Source: Wall Street Journal October 10, 2022 04:00 UTC