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Hong Kong Chip Stocks Rise 15% on May 11 Despite Hang Seng Index Decline

GateNews
Stocks

According to South China Morning Post, Hong Kong chip stocks rose on May 11 as broader indexes fell. Montage Technology climbed 15.81% to HK$435 (US$55), while Nasino gained 14.29% to HK$194.3 (US$25), GigaDevice added 9.59% to HK$537 (US$68), and SMIC and Hua Hong Semiconductor rose 4.09% and 5.2% respectively. The Hang Seng Index fell 0.55% to 26,246.84 and the Hang Seng Tech Index declined 0.74% to 5,064.88. The gains followed Vice-Premier Ding Xuexiang’s visit to Huawei’s chip research center in Shanghai on May 8, where he called for breakthroughs in basic technology.

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