Oil prices fell more than 5% early Monday as the Chinese city of Shanghai announced lockdown restrictions, triggering fears over weakened demand.

Chip designer Shanghai Biren Intelligent Technology is seeking to raise fresh funds at a valuation of about CNY17 billion (US$2.7 billion) to fuel its growth, according to people familiar with the matter.

The Russian Federation government is considering adding chip designers Baikal Electronics and MCST to the list of 'backbone enterprises.' The status will provide Baikal and MSCT with numerous benefits, including subsidies. State aid might help these companies to transition the production of their chips from Taiwan to China. Meanwhile, it is unclear whether fabs like SMIC and Hua Hong are interested in making chips for Russian companies and risk additional sanctions.

Tesla is suspending production at its Shanghai factory for two days as China tightens restrictions to contain the latest Covid outbreak, according to people familiar with the matter.

Mainland China reported over 1,000 new COVID-19 infections in dozens of cities, the highest daily count in about two years, with the Omicron variant forcing a northeastern city to go under lockdown and the financial hub Shanghai to close schools.

Two of China's largest cities, Shenzhen and Shanghai, imposed stringent restrictions on Sunday on the movements of their residents, as a coronavirus outbreak continued to spread across much of mainland China.

if the United States were to find that a company like the Semiconductor Manufacturing International Corporation, in Shanghai, was selling its chips to Russia, "we could essentially shut SMIC down because we prevent them from using our equipment and our software."

ASML has warned that an affiliate of a China company it previously accused of stealing its trade secrets has begun marketing products that could infringe on its intellectual property rights.

China's No. 2 telecommunications equipment maker ZTE has been quietly boosting its chip design capabilities as a US crackdown continues to hobble its bigger domestic rival, Huawei Technologies, Nikkei Asia has learned.

China plans to set up a special organization that facilitates collaboration between domestic companies and overseas semiconductor powerhouses such as Intel to foster development hubs for software, material and manufacturing equipment.

China's Realme will enter Europe's high-end handset market next month with its priciest ever device, its CEO told Reuters, as it looks to expand beyond its budget offerings and sell 50% more smartphones globally this year.

The chief executive of ASML on Wednesday said the company still has not received permission to ship any of its most cutting edge lithography systems, which are necessary to make advanced computer chips, to China.

China's state-backed Tsinghua Unigroup has scrapped major memory chip projects in two cities as new investors push to turn around the debt-stricken company that has been left reeling from US restrictions on its access to vital technology.

More global automakers have been caught in China's latest coronavirus outbreak in Tianjin, adding further stress to already strained supply chains.

Taiwan's GlobalWafers is close to clearing an important regulatory hurdle in its $5.3 billion acquisition of German silicon wafer manufacturer Siltronic, according to people familiar with the matter.

Officials in Beijing are on high alert just weeks out from the start of the Winter Olympics, after China's first local outbreak of the Omicron variant spread from the northern port city of Tianjin to the central province of Henan.

It follows a similar lockdown in Xi'an, where 13 million have been confined to their homes since 23 December.

China's ride-hailing firm Didi Global on Wednesday reported a 1.7% decline in third-quarter revenue, as its domestic business took a hit from a regulatory crackdown.

Luxshare Precision Industry is building a massive manufacturing complex in eastern China as it aims to break the decadelong hold that Taiwanese rivals Foxconn and Pegatron have on iPhone assembly.

South Korea's SK Hynix said on Wednesday it has received merger clearances from the Chinese antitrust authority for its acquisition of Intel's NAND memory chip business, clearing the way for the world's second-largest memory chip maker to completion of securing regulatory approvals from all eight countries.

SK Hynix System IC, a subsidiary of SK Hynix, will close down its M8 plant in Cheongju, Korea in February 2022 and relocate all its equipment to its plant in Wuxi, China by May.

Chinese private equity firm Wise Road Capital and US chipmaker Magnachip Semiconductor have terminated their $1.4 billion merger agreement struck in March, the companies said in a joint statement on Monday.

The US has placed a dozen Chinese groups involved in quantum computing and other advanced technologies on an export blacklist, saying they pose a risk of gaining access to critical American technologies for the People's Liberation Army.

Plans by Korea's SK Hynix to overhaul a huge facility in China so it can make memory chips more efficiently are in jeopardy, sources familiar with the matter told Reuters, because US officials do not want advanced equipment used in the process to enter into China.

The Biden administration spurned a plan by Intel to increase production in China over security concerns, dealing a setback to an idea pitched as a fix for US chip shortages, according to people familiar with the deliberations.

Yahoo has shut down access to its services in China, becoming the latest American tech company to exit the country.

Power rationing and forced cuts to factory production in China are widening amid electricity supply issues and a push to enforce environmental regulations.

Chinese auto-chip startup Black Sesame Technologies said on Wednesday that it had raised "hundreds of millions of dollars" from Xiaomi and other investors as China accelerates development of its semiconductor industry.

China's recent regulatory tightening will cause limited damage to the country's long-term economic growth and investment prospects, although financial markets will likely remain volatile in the short term, according to Goldman Sachs.

China's government on Wednesday summoned gaming firms including Tencent Holdings and NetEase to ensure they implement new rules for the sector.

China will set up a new stock exchange in Beijing, giving the nation's capital and political center more influence in the world of business and finance.

China's regulatory efforts to increase control over its technology sector adds another "decoupling engine" to the global economy, which could weigh on Chinese growth prospects, the former head of the World Trade Organization said.

SoftBank is holding back on new investments in China while it sees how Beijing's move to tame its technology sector plays out.

The Chinese government has unveiled a five-year plan outlining tighter regulation of much of its economy. It says new rules will be introduced covering areas including national security, technology and monopolies.

Tsinghua Unigroup has been forced into restructuring under China's bankruptcy law, kicking off a process that could pave the way for the introduction of strategic investors like Alibaba.

Huawei's chip design arm has struck a deal aimed at building up its domestic supply chain, a local partner said on Tuesday, in a first public move against a US clampdown aimed at cutting its access to vital technology.

Washington's moves showed that "the US is pressuring Taiwan and TSMC to support its supply chain" over China, said Paul Triolo, an analyst at consultancy Eurasia Group. They also challenge TSMC's historic position of neutrality and the company's strategy of "being everyone's foundry."

China's Internet regulator has ordered app stores to stop offering ride-hailing company Didi Chuxing's app.

Bitmain, China's biggest maker of cryptocurrency mining machines, said it had suspended sales of its products in the spot market to help ease selling pressure following Beijing's ban on bitcoin mining.

China has expanded its clampdown on cryptocurrencies, telling banks and payments platforms to stop supporting digital currency transactions.