China’s Micron ban revives U.S. trade tensions, fuels Asian chip rally

News Snapshot:

U.S.-based Micron Technology Inc MU-Q on Monday forecast a hit to revenue in the low-single to high-single digit percentage after a ban by China on sale of its memory chips to key domestic industries marked the latest in the Sino-American trade spat. China’s cyberspace regulator said late on Sunday that Micron, the biggest U.S. memory chipmaker, had failed its network security review and that it would block operators of key infrastructure from buying from the company. It did not provide details on what risks it had found or what products from the company would be affected. Analysts said they saw...