Chip designer GigaDevice surges 45% in Hong Kong debut amid China’s self-reliance drive

Mainland chip designer GigaDevice Semiconductor jumped more than 45 per cent on its first trading day in Hong Kong on Tuesday, as the Beijing-based firm’s debut catered to investor appetite for tech companies amid China’s push for self-reliance. The firm’s shares started trading at HK$235, versus the offer price of HK$162, before ending the morning session up 40 per cent at HK$226.80. Its shares closed between HK$224.20 and HK$226.80 on the grey market on Monday evening, helping some investors...