Categories: Stock Market News

Chinese language chip shares soar as Beijing probes US subsidies and dumping practices


Investing.com– Chinese language semiconductor shares rallied on Friday following Beijing’s announcement of an investigation into U.S. authorities subsidies and potential dumping of lower-end chips into the Chinese language market.

The Ministry of Commerce’s probe goals to evaluate whether or not these U.S. practices are undermining China’s home chip trade.

Main Chinese language chipmakers skilled notable inventory actions.

Hong Kong-listed shares of Semiconductor Manufacturing Worldwide Corp (HK:0981) surged practically 11% to HK$38.90, reflecting investor optimism in regards to the potential advantages of the federal government’s protecting measures for native chipmakers.

Hua Hong Semiconductor Ltd (HK:1347) inventory jumped 8.2% in Hong Kong buying and selling, buoyed by expectations of a extra stage taking part in discipline ensuing from the investigation.

Shanghai-listed Will Semiconductor Co Ltd Shanghai (SS:603501) gained 2%, whereas Shenzhen-listed NAURA Expertise Group Co Ltd (SZ:002371) rose 1%.

In distinction chip shares outdoors China have been decrease as manufacturing trade teams criticized the Joe Biden administration’s new export controls, arguing they have been carried out with out enough session.

This was regardless of Taiwan Semiconductor Manufacturing (NYSE:TSM) (TSMC) reporting a 57% surge in fourth-quarter internet revenue, pushed by sturdy demand for AI-related {hardware}.

Within the U.S. main chipmakers like NVIDIA Company (NASDAQ:NVDA) and Intel Company (NASDAQ:INTC) closed decrease on Thursday.

China’s reciprocal motion underscores the intensifying technological rivalry between the 2 nations.

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