ASML shares rose as U.S. President Donald Trump and Chinese President Xi Jinping began a summit in Beijing. The meeting commenced on May 14. This diplomatic event is scheduled to last two days. Discussions will cover trade policy and technology export restrictions. These talks directly impact ASML’s role in the global semiconductor supply chain.
Bank of America analysts identified the summit as a potential positive catalyst for the Dutch equipment giant. A relaxation of semiconductor export controls could significantly boost ASML's business. China continues to prioritize the advancement of its domestic chip manufacturing capabilities. Even a subtle policy shift could prove material for the company.
European technology stocks gained ground alongside ASML. Broader market sentiment improved following strong earnings reports from tech leaders like Cisco.