Cambricon Briefly Overtakes Moutai as China’s Priciest Stock
People visit the booth of Cambricon during 2021 World Artificial Intelligence Conference (WAIC) at Shanghai World Expo Center in Shanghai, China on July 9, 2021
Photographer: VCG/Getty Images
A leading Chinese chipmaker briefly replaced a top liquor giant as the country’s most expensive onshore stock, as investors doubled down on innovative technology firms to keep driving a broader rally.
Shares of Cambricon Technologies Corp. surged as much as 10% to 1,465 yuan ($204.62) on Wednesday, momentarily surpassing those of Kweichow Moutai Co., the best known maker of the fiery Chinese spirit baijiu. The stock has since pared the gain and conceded the top spot.