Live news: China’s semiconductor stocks rise after ban on US chip maker
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 largest contract chipmaker, rose about 2 percent in morning trade, while Hua Hong Semiconductor, the country’s number two, rose 2.1 percent in Hong Kong.
Smaller companies GigaDevice Semiconductor, Ingenic Semiconductor and Shenzhen Kaifa Technology rose 1.3 percent, 3.3 percent and 0.9 percent respectively.
Beijing on Sunday banned key infrastructure operators from buying products made by Boise, Idaho-based Micron over security concerns, following a review that began in April.