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China Chipmakers Rally as US Tensions Seen Fueling Support

  • Beijing seen ramping up chip ambitions to counter US curbs
  • Major China semiconductor firms advance for second day
The Semiconductor Manufacturing International Corp. headquarters in Shanghai.

The Semiconductor Manufacturing International Corp. headquarters in Shanghai.

Photographer: Qilai Shen/Bloomberg

Shares of Chinese chipmakers are getting a boost from intensifying Sino-American tensions, as traders expect Beijing to step up support for homegrown firms to bolster the key technology.

Semiconductor Manufacturing International Corp., which is China’s largest chipmaker by market value and faces US export curbs, gained 3.3% in Hong Kong, following a 4.1% jump on Wednesday. Hua Hong Semiconductor Ltd. advanced 5%. The city’s benchmark Hang Seng Index rose 2.1%.