Local fund managers are eyeing off Chinese artificial intelligence players amid a burst of renewed optimism in the sector that has sent tech stocks into a rally despite ongoing tensions stemming from the Iran war.
The Philadelphia Stock Exchange Semiconductor Index, which tracks the 30 biggest Wall Street-listed chip stocks, rose nearly 2 per cent on Thursday (Friday AEST) – marking its 17th straight positive session and longest streak in records that stretch back more than three decades. With month-to-date gains of 40 per cent, the index is heading for its biggest rise since 2000.
Loading…