How Rumors of an Elusive Chip Machine Sparked a China Stock Rally
A humanoid robot from Lenovo Group. Optimism about China's potential to compete with the US in AI has fueled excitement in the country's chip stocks.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Hi, this is Charlie Zhu in Shanghai.
Chinese stocks are having a moment, driven by a tech frenzy not unlike the one gripping the Nasdaq. Shares of certain companies can skyrocket overnight on the back of a broker upgrade, glowing news article or, sometimes, just a rumor.