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WSJ: China planning $47.4B semiconductor fund

Published 05/07/2018, 01:18 PM
© Reuters.  WSJ: China planning $47.4B semiconductor fund
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  • The WSJ reports that China is near finalizing a $47.4B investment fund to finance semiconductor research and startup development.
  • The government-backed China Integrated Circuit Industry Investment Fund Co. will be behind the fund. The move comes as China wants to increase its tech independence during a period of heightened relations with the US.
  • A similar fund was launched in 2014 and raised $21.8B (and the recent ire of US officials).
  • The Philadelphia Semiconductor Index is up 1%.
  • Related ETFs: SOXL, SOXX, SMH, USD, PSI, XSD, SOXS, SSG, FTXL, XTH
  • Now read: Avoiding Getting Socked In SOXX


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