SHANGHAI : Chinese chipmakers' shares jumped by the most in two years this week as House of Representatives Speaker Nancy Pelosi's visit to Taiwan heightened tensions with the U.S., driving patriotic bets on a sector Beijing sees as key to its rivalry with Washington.
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. Shares in Shenzhen China Micro Semicon Co Ltd soared 82 per cent on their first day of trading in Shanghai, in contrast with weaker recent stock market debuts.
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