Chinese Stocks Lead Global Markets as Chip Shares Skyrocket

Chinese stocks were a standout performer in global markets on Friday, with a benchmark of onshore equities capping its best week since early November amid a rally in semiconductor shares.

A gauge of technology shares in mainland China jumped more than 8%, propelled by gains in chipmakers Cambricon Technologies Corp. and Hygon Information Technology Co. The benchmark CSI 300 Index rallied 2.1%, taking its weekly advance to over 4%.