REUTERS/Aly Song/File Photo Acquire Licensing RightsSHENZHEN, China/SHANGHAI, Aug 30 (Reuters) - Chinese chip stocks rallied on Wednesday following Huawei Technologies' (HWT.UL) launch of its new Mate 60 Pro phone, as investors speculated it could be using a 5G capable chip which, if true, would mark a win for China's local semiconductor sector.
On Tuesday, the company began selling its Mate 60 Pro around midday for 6,999 yuan ($960) in an unusually low-key fashion, having given no advance notice or conducted advertising.
The specifications provided for the Mate 60 advertised its ability to make satellite calls, but provided no information on the power of the chipset inside.
Huawei, whose woes with Washington have become a key flashpoint in U.S.-China relations, declined to comment on whether the phone was 5G capable but said in a statement the Mate 60 series was its most powerful Mate model ever.
CHIP SHARES JUMPChina's semiconductor sector (.CSIH30184) jumped more than 2.5% on Wednesday, sending weekly gains to roughly 8%.
Persons:
Aly, Lu Deyong, Lu, Nicole Peng, David Kirton, Jason Xue, Mo Yelin, Lincoln
Organizations:
Huawei, Artificial Intelligence, REUTERS, Rights, Huawei Technologies, Reuters, chipmaking, Semiconductor Manufacturing International, Pro, Staff, Washington, China's Semiconductor Manufacturing International Corp, Sai MicroElectronics Inc, Thomson
Locations:
Shanghai, China, Rights SHENZHEN, SHANGHAI, Washington, Beijing, Shenzhen, Kirin, Mo