China chipmakers jump as US curbs fuel tech self-reliance bets

Hua Hong Grace Semiconductor

11/11/2024 02:51

** Chinese semiconductors surge as fresh U.S. chipmaking
curbs against China fuelled patriotic bets on tech independency
    **  U.S. orders Taiwan Semiconductor Manufacturing Co
(2330.TW) to halt shipments of advanced chips used in AI apps to
Chinese customers from Monday, a source told Reuters
    ** China Fortune Securities says tech self-reliance an
inevitable trend in the long term and the Chinese suppliers'
market will rise despite short-term impact of the TSMC shipment
curb
    ** Adds U.S. may further strengthen curbs against China's
tech advancement under Donald Trump's presidency
    ** Cinda Securities also anticipates fresh tech restrictions
against China after Trump assumes office
    ** Says "rising external pressure will likely accelerate
innovation and technology breakthroughs by domestic chipmakers"
    ** CSI Semiconductor Index  .CSI931865  jumps more than 6%
to near three-year high, while the CSI Integrated Circuits Index
 .CSI932087  adds 5%; tech-focused STAR100 Index  .STAR100 
gains more than 3%
        ** In Hong Kong, SMIC  0981.HK  jumps 6.7% to HK$30.45,
highest since Oct. 23, Hua Hong Semiconductor  1347.HK  adds
11.6% to HK$25.55, highest since Oct. 9
  

 (Reporting by Shanghai newsroom)
 ((samuel.shen@tr.com))