Hong Kong, Chinese stock chip rally, potential main support
Haeng Tech Subindex has risen by 3%.
Chipmakers was one of the biggest winners with 20% of Hua Hong Semiconductor and more than 9% of fellow SMIC climbing.
In the mainland, the Shanghai Composite Index and the Blue-Chip CSI 300 Index also increased the loss of 0.6% and 0.5%, respectively.
The CSI semiconductor industry index led the land with more than 4%jump.
The afternoon session’s interests helped to restore some evidence due to the big sells at the beginning of the Hong Kong and the mainland market. President Trump stopped most of his “interaction” tariffs on Wednesday, but he took over 145%of the products. Despite the profits of Friday,
According to Steven Leung, head of the institutional sales officer of UOB KAY HIAN in Hong Kong, Hong Kong’s bounces are leading the stock, which is widely known as China’s funds known as “national teams.”
Beijing has strengthened its efforts to stabilize the mainland market this week, and has entered the market to purchase stocks by main funds and main companies. Many listed companies have also announced stock repurchase.
Liam Zhou, founder of minority asset management headquarters in Shanghai, said his $ 1 billion portfolio is now fully invested in Chinese stocks and he is betting on the economic elasticity of the country.
“China’s retaliation for US tariffs has reduced its economic dependence on the United States, taming the risk of the real estate sector in advance, creating technological innovation, and upgrading the manufacturing sector,” he said.
In other places, MSCI’s widespread Asia -Pacific Index also refused to fall 1.7%, while Nicky in Japan narrowed down to 3.6%.
