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Chinese chip stocks gain US$13bil on talk of Beijing stimulus

Chinese chip stocks gain US$13bil on talk of Beijing stimulus

Chipmaker China Semiconductor Manufacturing International Corp led a $13 billion sector meeting, when investors bet Beijing would announce political or financial support for the company’s core for its geopolitical ambitions. Shares of SMIC, which has been blacklisted by Washington for allegedly aiding the Chinese military, surged as much as 28% …

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