The low-profile yet surprising release of a new phone by Huawei Technologies Co. last week has sparked a hunt for potential beneficiaries, on the bet it represents a jump forward in China’s domestic chipmaking.
Traders and investors have piled into China’s biggest chipmaker, Semiconductor Manufacturing International Corp., adding more than $5 billion to its market value since the start of last week and accelerating its surge on Monday after a teardown for Bloomberg News revealed Huawei is using SMIC’s chips.Investors also chased companies that have business links with Shenzhen-based Huawei. Dingli Communications Corp.
The stock frenzy is riding optimism about China’s chip industry, which the Mate 60 Pro has quickly become a symbol for. Its 7nm SMIC processor hints at early progress toward developing a domestic chipmaking ecosystem, according to TechInsights, the semiconductor specialists who conducted the teardown for Bloomberg. That could spur additional demand across the silicon supply chain.
Still, without the detailed specification of Huawei’s chip, as well as better information on the viability of producing the part in large volume and at reasonable cost, chasing the rally looks increasingly risky. SMIC and Dalian Zhiyun’s shares are trading in the overbought zone in both Hong Kong and Shanghai following the recent rally, based on the 14-day relative strength, data compiled by Bloomberg show.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Teardown of Huawei's new phone shows China's chip breakthrough(Reuters) - Huawei Technologies and China's top chipmaker SMIC have built an advanced 7-nanometer processor to power its latest smartphone, according ...
Read more »
My son is starting high school, and he still doesn’t have a cell phoneI want my son to have a childhood that he can look back on with delight. The easiest way to achieve this is to delay giving him a smartphone
Read more »
I asked ChatGPT to examine Sam Altman’s Worldcoin six weeks after launchAs Sam Altman's WorldCoin sets a record in Argentina, I asked ChatGPT to assess its liquidity, price, and volume movement.
Read more »
China's Moutai, Luckin launch alcohol-tinged latte to woo young Chinese consumersBy Sophie Yu and Brenda Goh BEIJING (Reuters) - Kweichow Moutai and coffee brand Luckin Coffee on Monday launched in China a latte advertised as ...
Read more »
China's Moutai, Luckin launch alcohol-tinged latte to woo young Chinese consumersKweichow Moutai and coffee brand Luckin Coffee on Monday launched in China a latte advertised as containing the fiery Chinese spirit baijiu, as the Chinese luxury liquor maker aims to pull in more younger consumers. The 38 yuan ($5.23) 'sauce-flavoured latte', which Luckin discounted to 19 yuan on the first day of sales, was one of the most discussed topics on Chinese social media platform Weibo, with several users saying they had placed orders. Moutai, known as the national liquor of China, is a potent, colourless spirit that is usually served at banquets in China, and drinkers say that the flavour and aroma of Kweichow Moutai's version are similar to soy sauce.
Read more »
Japan's Mitsubishi Heavy reschedules moon rocket launch for ThursdayTOKYO (Reuters) - Japan's Mitsubishi Heavy Industries said on Monday it planned to launch its H-IIA rocket carrying a moon lander on Thursday morning, ...
Read more »