Tensions with U.S. spur Chinese buying of chipmaking stocks

rose 6.8% on Friday to a four-month high, bringing the week's gains to 14.2%, the best weekly performance since mid-2020.Although the U.S. Chip Act would further restrict the use of advanced U.S. technologies in China, while prodding more semiconductor investment in the U.S, some investors interpret it as good news for local Chinese players.

This view was echoed by Guorong Securities, which said in a note that the U.S. Chip Act will "stimulate the development of China's semiconductor industry".soared 82% on their first day of trading in Shanghai, in contrast with weaker recent stock market debuts.

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