China chip breakthrough triggers global tech rout

Global tech stocks plunged after China achieved a breakthrough in developing machinery crucial to the AI boom.Trading was briefly halted on South Korea’s benchmark Kospi index, which collapsed more than 10pc overnight in a worldwide sell-off of semiconductor companies.The downturn was triggered by reports that China has begun mass production of machinery critical to the manufacture of advanced microchips.China’s Shanghai Yuliangsheng began production of so-called deep ultraviolet lithography tools crucial in the process of making semiconductors, according to The Information.Until now, this technology had been dominated by Western chip giants.Shares in ASML, Europe’s most valuable company and a leading manufacturer of the technology, fell more than 8pc on Monday.Japan’s Nikkei and Taiwan’s