Chinese semiconductor stocks rallied sharply in Hong Kong after renewed optimism around a potential technological breakthrough by Huawei Technologies boosted investor sentiment towards the country’s chip sector, Bloomberg reported.
Shares of Semiconductor Manufacturing International Corp. and Hua Hong Semiconductor Ltd. surged more than 16% as trading resumed following a market holiday. On the mainland, chip-related counters had already gained momentum after a Huawei executive revealed at an industry conference that the company plans to begin producing 1.4-nanometer chips by 2031 using its proprietary “LogicFolding” technology.
