ASML Holding NV's stock surged 5.42% in after-hours trading on Wednesday.

The sharp rise followed reports that the Dutch government is urging the United States not to expand export controls on microchip equipment in a way that would restrict ASML's sales to China. Dutch Trade Minister Sjoerd Sjoerdsma met with US officials to lobby against proposed legislation that would bar Chinese chipmakers from acquiring equipment from US-linked companies like ASML.

China represents a significant market for ASML, accounting for 19% of the company's net system sales in the first quarter. The Dutch government's efforts to protect ASML's access to the Chinese market are seen as positive for the company's future revenue prospects.