$Shenzhen Rongda Photosensitive & Technology (300576.SZ)$$CS...
Shares in Chinese suppliers of materials for semiconductors surged after unsubstantiated reports of impending Japanese export curbs circulated on social media.
$Shenzhen Rongda Photosensitive & Technology(300576.SZ$ , supplier of compounds known as photoresists that are essential in chipmaking, soared 20%. That leap, which follows a 20% gain Wed, came after several posts on WeChat, which Bloomberg has not verified independently, that an unnamed Japanese company had cut off supplies of the compound.
The report comes as US allies including the Netherlands agreed to join the US in restricting the export of advanced chipmaking gear to China, part of Washington's broader plan to contain a semiconductor sector it's accused of aiding the military.
China is funnelling billions of capital into the chip industry as nation states compete to build up domestic semiconductor production. Veteran emerging-markets investor Mark Mobius said on Thu he is betting big on semiconductor shares that could benefit from that investment.
On mainland exchanges on Thu, Rongda peer $Jiangsu Nata Opto-electronic Material(300346.SZ$ climbed more than 7% at its peak, while $Crystal Clear Electronic Material(300655.SZ$ rose more than 6%.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moo Contributor
Follow me to get useful analysis, learn TA and make profitable trades.
Maximise profit 利润最大化
6572Followers
57Following
23KVisitors
Follow
bullrider_21OP : China wants to be self- reliant in chip production.