Live news: China semiconductor stocks rise after ban on US chipmaker
Chinese semiconductor-related stocks rose on Monday after Beijing banned operators of key infrastructure from using products made by US company Micron Technology.
Semiconductor Manufacturing International Corporation, China’s biggest contract chipmaker, added about 2 per cent in morning trading, while Hua Hong Semiconductor, the country’s number two, gained 2.1 per cent in Hong Kong.
Smaller companies GigaDevice Semiconductor, Ingenic Semiconductor and Shenzhen Kaifa Technology rose 1.3 per cent, 3.3 per cent and 0.9 per cent respectively.
Beijing on Sunday banned operators of key infrastructure from buying products made by the Boise, Idaho-based Micron over security concerns, following a review that started in April.