Decoy processors carry Korean HBM past US export controls into China
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A loophole in US export controls reportedly lets high-bandwidth memory (HBM) made by Samsung Electronics and SK Hynix reach China's AI chip industry...
Directly affected
- HBM Hudbay Minerals+2.0% 19d
Named in this report.
- SSNLF Samsung Electronics (KRX: 005930)
Named in this report.
- SKHY SK hynix
Named in this report.
Indirectly affected
- SMH VanEck Semiconductor ETF-16.4% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “export controls” (semiconductors) in this story.
- SOXX iShares Semiconductor ETF-20.8% 30d
iShares Semiconductor ETF: it holds chipmakers. Linked by “export controls” (semiconductors) in this story.
- QQQ Invesco QQQ-10.3% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “ai” (AI and big tech) in this story.
- KWEB KraneShares CSI China Internet ETF-4.6% 30d
KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “china” (Chinese tech) in this story.
- FXI iShares China Large-Cap ETF-5.1% 30d
iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“china”).
- EWY iShares MSCI South Korea ETF-21.2% 30d
iShares MSCI South Korea ETF holds stocks listed in South Korea, which this story is about (“korean”).
- ASML ASML Holding N.V-0.8% 16d
ASML Holding N.V (special industry machinery): chip demand, export rules and supply drive chipmakers' shares. Linked by “export controls” (semiconductors) in this story.
- NVDA Nvidia
Nvidia (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “export controls” (semiconductors) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| HBM | +10.00% | +1.19% | base | after close | after close | after close | after close |
| SSNLFNon-US listing (OTC); price checks may stay empty | — | — | — | — | — | — | — |
| SKHY | +9.22% | -1.11% | base | after close | after close | after close | after close |
| SMH | +9.58% | +0.86% | base | after close | after close | after close | after close |
| SOXX | +12.28% | +1.42% | base | after close | after close | after close | after close |
| QQQ | +5.88% | +0.76% | base | after close | after close | after close | after close |
| KWEB | -1.33% | -2.26% | base | after close | after close | after close | after close |
| FXI | -2.21% | -0.21% | base | after close | after close | after close | after close |
| EWY | +7.01% | -1.34% | base | after close | after close | after close | after close |
| ASML | +7.25% | +0.88% | base | after close | after close | after close | after close |
| NVDA | +4.25% | -0.87% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Decoy processors carry Korean HBM past US export controls into China digitimes
Source: digitimes
Price since this story was published: Vaneck Etf Trust (SMH)
| Company | When | Move | Status |
|---|---|---|---|
| Asml Holding (ASML) | three days earlier | +0.88% | final price |
| Asml Holding (ASML) | five days earlier | +7.25% | final price |
| Ishares Msci South Korea Etf (EWY) | three days earlier | -1.34% | final price |
| Ishares Msci South Korea Etf (EWY) | five days earlier | +7.01% | final price |
| Ishares China Large-Cap Etf (FXI) | three days earlier | -0.21% | final price |
| Ishares China Large-Cap Etf (FXI) | five days earlier | -2.21% | final price |
| HBM | three days earlier | +1.19% | final price |
| HBM | five days earlier | +10.00% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | three days earlier | -2.26% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | five days earlier | -1.33% | final price |
| Nvidia (NVDA) | three days earlier | -0.87% | final price |
| Nvidia (NVDA) | five days earlier | +4.25% | final price |
| QQQ | three days earlier | +0.76% | final price |
| QQQ | five days earlier | +5.88% | final price |
| SKHY | three days earlier | -1.11% | final price |
| SKHY | five days earlier | +9.22% | final price |
| Vaneck Etf Trust (SMH) | three days earlier | +0.86% | final price |
| Vaneck Etf Trust (SMH) | five days earlier | +9.58% | final price |
| Ishares Tr (SOXX) | three days earlier | +1.42% | final price |
| Ishares Tr (SOXX) | five days earlier | +12.28% | final price |
Congressional trades in the stocks in this story
- Rep. Gilbert Cisneros bought SK hynix (SKHY), worth $1,001 - $15,000 on 7 Aug 2026. That is 89 days before publication. Filed 10 Sep 2026. View the filing.
- Rep. Kevin Hern sold Asml Holding (ASML) (jointly held), worth $15,001 - $50,000 on 23 Oct 2026. That is 12 days before publication. Filed 28 Oct 2026. View the filing.
- Rep. Michael T. McCaul bought Asml Holding (ASML) (held by a spouse), worth $50,001 - $100,000 on 7 Aug 2026. That is 89 days before publication. Filed 14 Oct 2026. View the filing.
- Rep. Pete Sessions sold Nvidia (NVDA) (held by a spouse), worth $15,001 - $50,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Cleo Fields bought Nvidia (NVDA), worth $1,001 - $15,000 on 1 Oct 2026. That is 34 days before publication. Filed 22 Oct 2026. View the filing.
- Rep. Rohit Khanna bought Nvidia (NVDA) (held by a dependent child), worth $1,001 - $15,000 on 23 Sep 2026. That is 42 days before publication. Filed 7 Oct 2026. View the filing.
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who gains and who loses around Vaneck Etf Trust (SMH)
Companies carried with this story
- SMH Vaneck Etf Trust
In “Decoy processors carry Korean HBM past US export controls into China,” Vaneck Etf Trust (SMH) is linked, with no stored direction, medium confidence. Reason on file: VanEck Semiconductor ETF: it holds chipmakers. Linked by “export controls” (semiconductors) in this story
- SOXX Ishares Tr
In “Decoy processors carry Korean HBM past US export controls into China,” Ishares Tr (SOXX) is linked, with no stored direction, medium confidence. Reason on file: iShares Semiconductor ETF: it holds chipmakers. Linked by “export controls” (semiconductors) in this story
- KWEB Kraneshares Csi China Internet Etf
For “Decoy processors carry Korean HBM past US export controls into China,” Kraneshares Csi China Internet Etf (KWEB) is linked, with no stored direction, medium confidence. Reason on file: KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “china” (Chinese tech) in this story
- XRT Spdr Series Trust
Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Decoy processors carry Korean HBM past US export controls into China.” Reason on file: SPDR S&P Retail ETF: it holds retailers. Linked by “china” (retail and consumer goods) in this story
- FXI Ishares China Large-Cap Etf
For “Decoy processors carry Korean HBM past US export controls into China,” Ishares China Large-Cap Etf (FXI) is linked, with no stored direction, medium confidence. Reason on file: iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“china”)
- EWY Ishares Msci South Korea Etf
For “Decoy processors carry Korean HBM past US export controls into China,” Ishares Msci South Korea Etf (EWY) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI South Korea ETF holds stocks listed in South Korea, which this story is about (“korean”)
- ASML Asml Holding
For “Decoy processors carry Korean HBM past US export controls into China,” Asml Holding (ASML) is linked, with no stored direction, medium confidence. Reason on file: ASML Holding N.V (special industry machinery): chip demand, export rules and supply drive chipmakers' shares. Linked by “export controls” (semiconductors) in this story
- NVDA Nvidia
In “Decoy processors carry Korean HBM past US export controls into China,” Nvidia (NVDA) is linked, with no stored direction, medium confidence. Reason on file: Nvidia (semiconductors and related devices): chip demand, export rules and supply drive chipmakers' shares. Linked by “export controls” (semiconductors) in this story
Vaneck Etf Trust (SMH)
Vaneck Etf Trust (SMH) is the company in “Decoy processors carry Korean HBM past US export controls into China,” the 4 Nov 2026 this story story.
The link for Vaneck Etf Trust (SMH) is this: VanEck Semiconductor ETF: it holds chipmakers. Linked by “export controls” (semiconductors) in this story
Also listed, Ishares Tr (SOXX): iShares Semiconductor ETF: it holds chipmakers. Linked by “export controls” (semiconductors) in this story
Price levels for Vaneck Etf Trust (SMH)
KWEB traded between 22.90 and 25.02 across 20 sessions. The latest close on file is 23.13. SMH traded between 506.51 and 639.33 across 20 sessions. The latest close on file is 508.07. SOXX traded between 452.10 and 596.35 across 20 sessions. The latest close on file is 453.73.
How strong the case is around Vaneck Etf Trust (SMH)
46 out of 100
“Decoy processors carry Korean HBM past US export controls into China” scores 46 out of 100. The score uses 1 sources, and 8 linked companies.