China Is Buying Up Chips Before Hong Kong Route Shuts

China Is Buying Up Chips Before Hong Kong Route Shuts

(Bloomberg) -- Chinese importers of computing chips are ramping up their purchases of equipment through Hong Kong, in the expectation that U.S. sanctions on the territory will soon make the trade much harder.Re-exports of semiconductors through Hong Kong to the mainland jumped by 11% in the first half of the year from the same period in 2019, almost double the increase in total chip purchases, according to Bloomberg calculations using official data. Re-exports rose by 21% in June alone. The Hong Kong trade represents more than 38% of China’s total chip imports on average.In the wake of Beijing’s imposition of a national security law on the Asian financial hub, the U.S. government has revoked the special trading status that eased commerce in sensitive goods including some computer chips. For buyers like Huawei Technologies Co., Xiaomi Corp. or Lenovo Group, a worst-case scenario would entail severe supply bottlenecks.“Chinese customers are willing to...

Apple Announces 4-1 Stock Split After Shares Surge Toward $400

(Bloomberg) -- Apple Inc. announced a 4-for-1 stock split after shares of the iPhone maker surged more than 80% in the past year.Shareholders at the close of trading on Aug. 24 will receive three additional shares for each one they currently own. Post-split trading will begin Aug. 31, Apple said in a statement on Thursday.The company said the move will “make the stock more accessible to a broader base of investors.” Apple shares have surged to almost $400 in the past year.This is the fifth stock split since Apple went public in 1980. The last split was in 2014. The company previously did splits in 1987, 2000 and 2005.The 2014 move paved the way for Apple to be added to the Dow Jones Industrial Average, which due to its configuration tends to eschew high-priced shares.The move bucks a trend among big U.S. tech companies that have mostly refused to split their...