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China’s chip stocks rose after Beijing announced a ban on purchases of some products from US memory chipmaker Micron, citing “serious potential network security issues”. The move followed a security review by the Cyberspace Administration of China, which found Micron products failed its network security review and posed a “major security risk” to China’s critical information infrastructure supply chain. In response, the US Commerce Secretary, Gina Raimondo, said the department would engage with the Chinese government to detail its position and seek further clarity.

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