Hong Kong chip stocks extend their rally as they ride the global semiconductor wave

Hong Kong chip stocks extended their rally on Monday morning, riding a global semiconductor wave after Wall Street’s Philadelphia Semiconductor Index surged last week, and continued momentum in China’s home-grown AI chip sector kept investor appetite elevated. Montage Technology led the pack with a 15.81 per cent jump to HK$435 as of 10.35am, followed by Nasino, which increased 14.29 per cent to HK$194.3. Meanwhile, GigaDevice rose 9.59 per cent to HK$537, SMIC added 4.09 per cent and Hua Hong Semiconductor climbed 5.2 per cent. Gains in the sector bucked the overall market trend as the benchmark Hang Seng Index dipped…