VNET Group, a Nasdaq-listed Chinese data centre firm, saw its stock soar 5.12% in pre-market trading on Thursday, despite being named in a Taiwanese investigation into alleged illegal recruitment of high-tech talent. The surge comes as a surprise given the potentially negative implications of the probe.
Taiwan authorities announced on Thursday that they are investigating 16 Chinese companies, including VNET Group, for allegedly poaching semiconductor and other high-tech talent. The investigation, which involved more than 300 agents searching 70 locations and questioning 120 people, is part of Taiwan's efforts to prevent technology outflows and maintain its global advantage in the high-tech industry.
The stock's unexpected rise may be attributed to investors seeing potential long-term benefits in VNET's aggressive talent acquisition strategy, despite the legal risks. Additionally, the broader market sentiment towards Chinese tech firms or specific company announcements not mentioned in the provided news could be contributing factors to the stock's positive movement. As the situation develops, investors will likely be watching closely for any official statements from VNET Group regarding the investigation and its potential impact on the company's operations.
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