China Tech Earnings Renew Focus on Hardware Stocks Over Internet

Image for article China Tech Earnings Renew Focus on Hardware Stocks Over Internet
News Source : Yahoo Entertainment

News Summary

  • Chinese tech firms' early earnings are giving hardware stocks renewed momentum.
  • Semiconductor Manufacturing International Corp.
  • climbed as much as 6.4% in Hong Kong on Friday.
  • But online retailer JD.com Inc.
  • fell more than 10% after posting its first quarterly revenue decline.
  • Since late June, investors have increasingly shifted into internet and e-consumer stocks as the AI rally cooled, reversing first‑half trends..
  • Newly listed memory-chip maker CXMT Corp.
  • on Thursday overtook internet giant Tencent Holdings Ltd.
  • as the world's most valuable Chinese company.
(Bloomberg) Chinese tech firms early earnings are giving hardware stocks renewed momentum, while internet platforms still struggle to show a full consumerdemand recovery.

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