The move follows sweeping export controls implemented by the United States last year that stopped Nvidia from selling its two most advanced chips to Chinese customers

China has been working on a more than 1 trillion yuan ($145.34 billion) support package for its semiconductor industry, amid tightening US restrictions

"There's no question in my mind that, in the chip sector, globalisation is dead," TSMC’s retired founder Morris Chang said

The investment is part of a 550 trillion won private-sector investment plan unveiled by the South Korea government to support high-tech sectors

The development follows the Dutch government’s announcement that it would restrict exports of critical chipmaking technology to protect national security

The Netherlands considers it necessary on national security grounds to get this technology into oversight with the greatest of speed, the Dutch trade minister said

Washington has also banned beneficiaries of the $39bn CHIPS and Science Act from using the cash for share buybacks

Semiconductor demand remained high whilst orders for electronic products fell 21.8%, Taiwan's economy ministry said

The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm

It is rare but not unprecedented for Berkshire to quickly undo a multi-billion dollar investment in a company's stock

Samsung’s plans have fanned concern that the world's biggest memory chipmaker intends to draw on its deep pockets to gain market share from smaller peers

The Netherlands will restrict ASML from selling advanced chimaking equipment to China, while Japan would impose similar restrictions on Nikon Corp, media reports said