Chinese chipmaker Hua Hong jumps on partnership deal with STMicro

Hua Hong Grace Semiconductor

22/11/2024 02:21

** Shanghai-listed shares of Hua Hong Semiconductor
 688347.SS  jump 10.6% to 53.78 yuan, their highest since Nov
14, and on track for a second session of gains
    ** The CEO of European computer chipmaker STMicroelectronics
 STMPA.PA  announced new plans to partner with Chinese foundry
Hua Hong  688347.SS , arguing that having local manufacturing in
China is vital to its competitive position
    ** ST said it is working with Hua Hong to manufacture
microcontroller chips at the 40 nanometre node in Shenzhen by
the end of 2025
    ** Hua Hong's Hong Kong-listed stock  1347.HK  rises 5.5% to
HK$23.2, its highest since Nov 13, on course for a fourth
session of gains  
    ** In China, the blue-chip CSI 300 Index  .CSI300  and
Shanghai Composite Index  .SSEC  both slip 0.3%, while
chipmaking index  .STARCHIP  climbs 0.1%
    ** In Hong Kong, Hang Seng Commerce & Industry Index  .HSNC 
gains 0.1%, Hang Seng Tech Index  .HSTECH  climbs 0.4% and Hang
Seng Index  .HSI  adds 0.1%
    ** Shanghai stock up 21.5% YTD, Hong Kong shares up 18.1%
YTD  

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))