SMIC's A shares rose 2.7%, and Hong Kong stocks rose 3.1%. Morgan Stanley said it is optimistic about the company because it is a “key supporter of the localization of artificial intelligence in China,” and that it has a positive view on Chinese chip equipment companies because demand for advanced logic chips will remain strong.

SMIC's A shares rose 2.7%, and Hong Kong stocks rose 3.1%. Morgan Stanley said it is optimistic about the company because it is a “key supporter of the localization of artificial intelligence in China,” and that it has a positive view on Chinese chip equipment companies because demand for advanced logic chips will remain strong.