Singapore-based ASMPT, which makes semiconductor assembly and packaging equipment, will close its factory in Shenzhen and lay off 950 workers to streamline its operations in mainland China, the company’s largest market. Shutting down ASMPT Equipment (Shenzhen), which falls under the company’s semiconductor solutions segment, “was a tough but necessary decision” to better align the company “with evolving market dynamics and customer needs”, according to the Hong Kong-listed firm’s statement on...