From Bloomberg, August 21/22:
Chinese stocks were a standout performer in global markets on Friday, with a benchmark of onshore equities capping its best week since early November amid a rally in semiconductor shares.
A gauge of technology shares in mainland China jumped more than 8%, propelled by gains in chipmakers Cambricon Technologies Corp. and Hygon Information Technology Co. The benchmark CSI 300 Index rallied 2.1%, taking its weekly advance to over 4%.
The surge in semiconductor stocks came after a report that Nvidia Corp. had asked suppliers such as South Korea’s Samsung Electronics Co. to halt production related to its H20 artificial intelligence chips. The report fueled investor bets that Chinese players would be expected to serve as alternative suppliers. Shares of Cambricon as well as Hygon finished the session up 20%.
“If H20 production is halted, it means China’s chip demand will still have to rely on homemade semiconductors for now,” said Bloomberg Intelligence strategist Marvin Chen. “Despite relaxation of US chip controls, security concerns may still push China to accelerate self-sufficiency in highly sensitive sectors such as tech.”....
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If interested see also August 18: "China to continue stimulating consumption, premier says" (Party Time in Asset Markets)"
August 19: "Mainland Chinese stocks steady at 10-year high as investors remain bullish"
