BUZZ-Chinese chipmaker Hua Hong jumps on partnership deal with STMicro

Reuters11-22
BUZZ-Chinese chipmaker Hua Hong jumps on partnership deal with STMicro

** Shanghai-listed shares of Hua Hong Semiconductor 688347.SS jump 10.6% to 53.78 yuan, their highest since Nov 14, and on track for a second session of gains

** The CEO of European computer chipmaker STMicroelectronics STMPA.PA announced new plans to partner with Chinese foundry Hua Hong 688347.SS, arguing that having local manufacturing in China is vital to its competitive position

** ST said it is working with Hua Hong to manufacture microcontroller chips at the 40 nanometre node in Shenzhen by the end of 2025

** Hua Hong's Hong Kong-listed stock 1347.HK rises 5.5% to HK$23.2, its highest since Nov 13, on course for a fourth session of gains

** In China, the blue-chip CSI 300 Index .CSI300 and Shanghai Composite Index .SSEC both slip 0.3%, while chipmaking index .STARCHIP climbs 0.1%

** In Hong Kong, Hang Seng Commerce & Industry Index .HSNC gains 0.1%, Hang Seng Tech Index .HSTECH climbs 0.4% and Hang Seng Index .HSI adds 0.1%

** Shanghai stock up 21.5% YTD, Hong Kong shares up 18.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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