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

Reuters
2024-11-11
BUZZ-China chipmakers jump as US curbs fuel tech self-reliance bets

** 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))

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