(Yicai Global) Dec. 6 -- China's semiconductor stocks are charging up this afternoon, fending off an overall market slump as bargain hunters look to snatch up a few diamonds from the rough.
Chip maker Infotmic Co. [SHE:000670] was among the best performers of the day as of 2:20 pm, hitting the 10-percent limit up from yesterday's close.
Integrated circuit suppliers Shanghai Belling Co. [SHA:600171] and Hangzhou Silan Microelectronics [SHA:600460] jumped 5.82 percent and 3.85 percent, respectively. Fabless tech firm Ingenic Semiconductor Co. [SHE:300223] saw its share price climb 2.03 percent.
China, the largest semiconductor consumer worldwide, is stepping up its efforts to become a major player in chip design and manufacturing. Forecasts put this year's industry revenue at CNY517.6 billion (USD78 billion) at an annual growth rate of almost 20 percent, much faster than the global average. Some industry researchers peg next year's revenue at more than CNY620 billion.