Trump’s Huawei ban takes its toll on US semiconductor shares
China-listed firms rally as investors bet the company’s troubles could accelerate a campaign to replace imported technologies
Shanghai — Washington’s blacklisting of technology giant Huawei has taken a toll on US semiconductor shares, but China-listed firms have rallied as investors bet they can gain from Beijing’s stepped-up efforts to build a homegrown supply chain. Share price gains of little-known firms such as Shenzhen Fastprint Circuit Tech and Jiangsu Changjiang Electronics Technology could be fleeting, analysts say, but Huawei’s troubles could accelerate a long-term campaign in China to replace imported technologies. Since the White House added Huawei Technologies to a trade blacklist last week, several global companies have suspended business with the world’s largest telecoms equipment maker.
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