bingocashandroid| Huahong Semiconductor led the rise in chip stocks: The third phase of the National Integrated Circuit Industry Investment Fund was established with a registered capital of 344 billion yuan

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Chip stocks rose sharply in the afternoonbingocashandroid, Huahong Semiconductor, Contron, SMIC, etc. led the gains. The third phase of the National Integrated Circuit Industry Investment Fund was established with a registered capital of 344 billion yuan. It will promote technological progress in the industry and demand in the semiconductor industry shows signs of recovery.

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In the afternoon, chip stocks ushered in a collective rise. Huahong Semiconductor shares rose 7bingocashandroid.65%, reaching 19bingocashandroid.14 Hong Kong dollarsbingocashandroid; Contron shares rose 5.88% to HK$0.054; SMIC shares rose 5.74% to HK$16.22; and Jinggate shares rose 1.85% to HK$0.275.

The National Integrated Circuit Industry Investment Fund Phase III Co., Ltd. was established on May 24 with a registered capital of 344 billion yuan. The fund plans to increase investment in core technologies and key components, and strengthen cooperation and integration with international advanced technologies.

According to Counterpoint Research, the semiconductor industry showed signs of recovery in demand in the first quarter of 2024. Although the recovery rate is slow, channel inventories have returned to normal after consecutive quarters of destocking. Nomura Securities predicts that if the technological recovery expands to other electronic terminal markets, it will push the semiconductor industry into a new round of rising cycle, which is expected to last from the second half of this year to 2025. Driven by AI demand, market recovery is expected to expand from artificial intelligence servers to areas such as traditional servers, personal computers and smartphones.