China stocks jump most in more than 2 months on chip shares' rally

economictimes.indiatimes.com:

China stocks jumped the most in over two months as local chip firms rallied after the United States stepped up its tech curbs.

** At the midday break, the Shanghai Composite index gained 1.75% to 3,216.00 points, the best single-day gain since Nov. 7. The blue-chip CSI300 index added 1.74%.

** Chip stocks led the gains onshore, with the CSI Semiconductor Industry Index strengthening 2.9%.

** China's biggest chipmaker Semiconductor Manufacturing International Corp climbed 2.9% and peer Hua Hong Semiconductor jumped 2.4%.

** The rally came as domestic investors continued piling up bets on the local chip players, after the U.S. government said on Monday it would further restrict artificial intelligence chip and technology exports while finding more ways to block China's access.

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