Latest news with #Chinese-compliant
RTHK
4 days ago
- Business
- RTHK
Beijing push against cut-throat prices lifts HK stocks
Beijing push against cut-throat prices lifts HK stocks The Hang Seng Index closed on Friday up 326.71 points, or 1.33 percent, at 24,825.66. File photo: RTHK Mainland China and Hong Kong stocks rose on Friday and closed the week higher, as Beijing's campaign against cut-throat price competition lifted investor sentiment. The benchmark Hang Seng Index ended at 24,825.66, up 326.71 points or 1.33 percent. The Hang Seng China Enterprises Index rose 1.51 percent to end at 8,986.47 while the Hang Seng Tech Index climbed 1.65 percent to 5,538.83. EV maker Li Auto has climbed around 15 percent this week, set for its biggest weekly gain since September 2024 after China's cabinet vowed on Wednesday to rein in what it described as "irrational" competition in the electric vehicle sector, pledging to step up cost investigations and enhance price monitoring. Tech majors traded in Hong Kong rebounded more than 5 percent this week, partly buoyed by optimism after Nvidia said it would ramp up supply of Chinese-compliant H20 chips in the coming months and look to bring more advanced semiconductors to the world's second-largest technology market. Shares of Alibaba rose 2.9 percent and were up 10 percent this week. Up north, the benchmark Shanghai Composite Index closed up 0.5 percent at 3,534.48 while the Shenzhen Component Index closed 0.37 percent higher at 10,913.84. The combined turnover of these two indexes stood at 1.57 trillion yuan, up from 1.54 trillion yuan on Thursday. Stocks related to rare earth permanent magnet and lithium mining led gains while stocks in the games and photovoltaic sectors suffered major losses. The ChiNext Index, which tracks China's Nasdaq-style board of growth enterprises, gained 0.34 percent to close at 2,277.15. China's blue-chip CSI300 Index has gained 1.1 percent this week, logging a fourth straight weekly rise, while the Hang Seng Index advanced 2.8 percent. China's top leaders pledged to step up regulation of aggressive price-cutting by Chinese companies, as the world's second-biggest economy struggles to shake off persistent deflationary pressures. UBS analysts expect China to intensify its campaign against involution competition over the coming quarters. (Reuters/Xinhua)
New Straits Times
6 days ago
- Business
- New Straits Times
Nvidia to boost H20 chip sales to China after US export restrictions ease
BEIJING/SHANGHAI: Nvidia will ramp up supply of Chinese-compliant H20 chips in the coming months and look to bring more advanced semiconductors to the world's second-largest technology market, Chief Executive Jensen Huang said at an event in Beijing. Huang's remarks came after the world's most valuable company said it planned to resume sales of the H20 artificial intelligence chip to China, a move US Commerce Secretary Howard Lutnick said was part of negotiations on rare earths. "H20 was released from its ban, the memory bandwidth is extremely good, for LLMs and other new models it will be excellent," Huang said. "I hope to get more advanced chips into China. Today H20 is still incredibly good, but in coming years, whatever we are allowed to sell to China we will do so." The planned resumption is a reversal of an export restriction imposed in April over US national security concerns. Huang has said that US tech giant Nvidia's leadership position could slip without sales to China, where developers were being courted by Huawei Technologies with chips produced in China. His comments come days after he met with US President Donald Trump, as Nvidia walks a tightrope between the world's two biggest economies, both vying for dominance in AI and other cutting-edge technologies. Huang told media on the sidelines of the supply chain expo in Beijing that licenses for Chinese orders would be approved swiftly, noting: "There are many order books already in." Orders from Chinese companies for H20 chips need to be sent by Nvidia to the US government for approval. NEW CHIP Sources said internet giants ByteDance and Tencent were in the process of submitting applications. ByteDance denied it was submitting applications while Tencent did not respond to a request for comment. Nvidia has also announced it is developing a new chip for Chinese clients called the RTX Pro GPU, that would also be compliant with US export restrictions. Huang said the new chip would be designed specifically for smart factories and for robot training purposes. "Here in China, because there's so much robotics innovation going on, and so much smart factory work being done here, and the supply chain is so vast, RTX Pro is perfect," Huang said. At the expo opening, he described AI models from Chinese firms Deepseek, Alibaba and Tencent as "world class" and said AI was "revolutionising" supply chains.
