Dutch tech giant ASML warned Wednesday of a steep fall in its China business next year, as it booked flat net profits in the third quarter of 2025 compared to the same period last year.

Traders appeared to see the glass half-full, with ASML shares opening more than three percent higher in Amsterdam, buoyed by solid sales and orders for its cutting-edge semiconductor production machines.

ASML has faced growing pressure from US and Dutch export curbs for its most advanced chipmaking tools to China, as Beijing and Western nations are locked in a battle for the key sector.

"We expect China customer demand, and therefore our China total net sales in 2026, to decline significantly compared to our very strong business there in 2024 and 2025," said CEO Christophe Fouquet in a statement.

The fi

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