Huawei’s stealth launch raises chip stocks

Many users posted messages describing the new smartphone's fast performance, triggering speculation Huawei had managed to achieve 5G-capabilities despite being barred from top-end chipmaking technology. — Reuters

Beijing: Chinese technology shares surged yesterday after Huawei Technologies Co surprised investors by debuting a 6,999 yuan (US$960) smartphone, buoying hopes for advances in domestic chip and mobile technology despite US sanctions.

The Mate 60 Pro device, which appeared this week for sale online with little warning, generated buzz among Chinese users who saw in the gadget Huawei’s resurgence in the high-end market. Many users posted messages describing its fast performance, triggering speculation Huawei had managed to achieve 5G-capabilities despite being barred from top-end chipmaking technology.