Stock Track | SMIC Soars 6% as China Tech Stocks Surge on Growth Optimism

Stock Track

2024/12/27

Semiconductor Manufacturing International Corp (SMIC), China's leading chipmaker, saw its shares surge by 6% in pre-market trading on Friday.

The stock's rally came as Chinese tech stocks broadly gained amid renewed optimism about China's economic growth prospects. Investors are betting that Beijing will deliver more stimulus measures, such as interest rate cuts and increased government borrowing, to spur growth and support the technology sector.

In addition to SMIC's gains, other Chinese tech giants like Xiaomi, Li Auto, and Kingsoft also experienced significant price increases on Friday. The buying frenzy in China tech stocks reflects investors' expectations of a potential policy boost from the government to revive the slowing economy.

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Investors are betting that Beijing will deliver more stimulus measures, such as interest rate cuts and increased government borrowing, to spur growth and support the technology sector.</p>\n\n<p>In addition to SMIC's gains, other Chinese tech giants like Xiaomi, Li Auto, and Kingsoft also experienced significant price increases on Friday. The buying frenzy in China tech stocks reflects investors' expectations of a potential policy boost from the government to revive the slowing economy.</p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00981","symbol_name":"中芯國際","start_time":0,"source_url":"","article_id":"1186601315","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1186601315","pubTimestamp":1735264973,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Semiconductor Manufacturing International Corp , China's leading chipmaker, saw its shares surge by 6% in pre-market trading on Friday.The stock's rally came as Chinese tech stocks broadly gained amid renewed optimism about China's economic growth prospects. 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