“The so-called Chinese spy narrative is purely a groundless accusation, slander, and a smear,” Chinese Foreign Ministry spokesperson Guo Jiakun said in Beijing on Monday, Nov. 9, Reuters reported, adding that TSMC closed 4.7% higher while Samsung Electronics and SK Hynix rose 0.6% and 0.4% as Nvidia’s Asian suppliers rebounded. CNBC likewise reported that China’s foreign ministry called the allegations “smears against China.” Reuters said Megaspeed did not immediately respond to a request for comment.