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Chip stocks rally after Huawei's low-key launch of new Mate 60 Pro phone

August 30, 2023
Source: reuters.com reuters.com
News Snapshot:
Huawei sign is seen at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 6, 2023. REUTERS/Aly Song/File Photo Acquire Licensing Rights SHENZHEN, China/SHANGHAI, Aug 30 (Reuters) - Chinese chip stocks rallied on Wednesday following Huawei Technologies' (HWT.UL) launch of its new Mate 60 Pro phone, as investors speculated it could be using a 5G capable chip which, if true, would mark a win for China's local semiconductor sector. Since 2019, Washington has restricted Huawei from buying advanced chips and software from U.S. companies, which has decimated its consumer electronics business and left it only able to launch limited...
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