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SMIC Jumps ~7% to Record, HUA HONG SEMI/ ASMPT Surge 10%+ Amid Reports of CN Ban on Nvidia AI Chip Purchases
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China's internet watchdogs have instructed several of the country's largest tech companies to stop purchasing all Nvidia (NVDA.US) AI chips and to cancel existing orders, according to The Financial Times' recent reports that cited three sources. With the market betting on continued momentum in Chinese-made chip production, Chinese chip foundries continued their aggressive charge. SMIC (00981.HK) hit a record high of HKD72.95 in early trading. It was last at HKD72.35, up 6.87%, with turnover of HKD5.243 billion. HUA HONG SEMI (01347.HK) also climbed to around a four-and-a-half-year high of HKD60.5. It last traded at HKD60, up 12.46%, with a volume of 54.9672 million shares, involving HKD3.163 billion. Chip packaging service provider ASMPT (00522.HK) rose to HKD80.25, its highest in about nine months since last December. It last printed at HKD79.55, up 11.65%, with a volume of 4.2597 million shares, involving HKD329 million. In addition, a CCTV program unexpectedly revealed the performance of the latest AI chip developed by BABA-W (09988.HK), showing that several key parameters have surpassed Nvidia's A800 and are comparable to its H20 chip, on which some Chinese media outlets see the possibility of BABA-W's chip partially replacing the H20 chip. BIDU-SW once reached a nearly four-year high of HKD164.8 this morning. It last traded at HKD163.8, up 1.36%, with a turnover of HKD9.956 billion. Likewise, BIDU-SW (09888.HK) hiked to around a two-year high of HKD138.4 at one point. It was last at HKD138.1, up 5.42%, with a turnover of HKD2.293 billion. AAStocks Financial News |
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