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Sanctioned China stocks win sudden boost from patriotic buyers

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Local investors are scooping up shares of those firms and state companies, and reaping handsome rewards

The trademark Chinese patriotism is back at play in markets. As Japan and the United States place fresh curbs on Chinese technology firms, local investors are scooping up shares of those firms and state companies, and reaping handsome rewards.

But there’s a silver lining in the tech spat, he added. “It forces us to make chips ourselves ... the higher the wind and waves, the pricier the fish.” U.S. politicians’ calls this week to sanction CXMT following Beijing’s ban on U.S. chipmaker Micron Technology also boosted shares in Chinese memory chipmakers such as ZBIT Semiconductor Inc, up 26% this week, and Montage Technology Co, up 4%.

New fund launches will potentially channel money into China’s technology and chipmaking leaders, including ZTE Corp , Unisplendour Co, Montage and Cambricon Technologies. Cutting-edge innovation requires huge and long-term investment, which is beyond the ability of private companies, “but SOEs can do it,” Yang said.

 

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