Shares of semiconductor companies fell Monday, with the industry selling off globally after fresh U.S. curbs on China’s access to American technology added to a disappointing start to the earnings season, stoking concern that the industry’s downturn is far from over.
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China Traders Await Policy Signals to Boost Faltering Stocks
Bloomberg 3/3/2021
China’s defense and technology sectors may offer investor opportunities as the nation’s top political meeting starts this week, which could help inject fresh impetus into the country’s equities.
Measures to help achieve President Xi Jinping’s pledge of a carbon neutral economy by 2060 could be released at the meeting which begins Friday, according to brokerages including Guotai Junan Securities Co. Plans for an expanded defense budget are also likely to be published at the National People’s Congress, Tianfeng Securities Co. analysts said.
Also topping analysts’ watch lists are policies to drive China’s economic growth in the post-pandemic era. Approval of a five-year plan, which includes strategies to cut dependence on the West for crucial components like computer chips and make bets on emerging technologies such as hydrogen vehicles, is expected. Beijing has repeatedly signaled a des