US chip stocks rise after Trump elected as US president
Updates
** U.S. chip firms' shares rise between 2.4% to 9.9% to afterDonald Trump elected U.S. president
** Trump has previously vowed to impose a 10% tariff on imports from all countries, and 60% duties on imports from China
** Trump previously said Taiwan had taken America's semiconductor business
** "Given Trump's America First mantra, there is an expectation that he will prioritize support for home-grown tech, in particular the manufacturing of highly sought after semi-conductors" - Susannah Streeter, head of money and markets, Hargreaves Lansdown
** "Although he (Trump) appears broadly aligned with the policies of the Biden administration in imposing tariffs to protect U.S. production, there are clearly hopes he'll go a step further"
** Shares of Micron Technology MU.O, Broadcom AVGO.O, Qualcomm QCOM.O up around 2.6%
** NvidiaNVDA.O closed Tuesday as world's most valuable company and extended market value lead over Apple AAPL.Oon Wednesday as shares were up 2.4% at $143.13
** Intel INTC.O up 3.9% whileGlobalFoundries GFS.O surge9.2%
** U.S.-listed shares of contract chipmaker Taiwan Semiconductor Manufacturing TSM.N down 3.4%
Reporting by Harshita Mary Varghese in Bengaluru
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