HUA HONG SEMICONDUCTOR SHARES DECLINE 5.3% IN HONG KONG

EUROPEAN FUTURES SLIDE; EUROSTOXX 50 FUTURES AND DAX FUTURES DOWN OVER 1%

The House Foreign Affairs Committee advanced 20 bipartisan bills to tighten US export controls on AI and semiconductor technology to China. Measures include raising civil penalties, creating whistleblower incentives, extending the statute of limitations to 10 years and deploying at least 30 export control officers abroad. The Match Act would require identifying restricted chip equipment and Chinese fabs and push allies to adopt similar curbs. The AI Overwatch Act would bar sales of advanced chips from Nvidia Corp., including Blackwell and H200 processors, to China and give Congress oversight of licenses. The Chip Security Act mandates anti-diversion rules to curb smuggling. All bills remain early-stage and may be incorporated into the annual defense bill.