Huawei’s restriction ease brought share rise for business partners

The US president Trump has announced ease in restriction for Huawei, allowing tech companies to resume their supplies to Huawei and on Monday, brought a rise in shares of Huawei’s business partners.

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In May, the U.S. Department of commerce restricted Huawei from doing business with firms including Google and banned Huawei’s telecom equipment sale inside the country, citing espionage threat to use Huawei as a bait in the trade war with China.

On June 29, Trump during his trip to Japan, announced ease in trade restriction for Huawei, so that U.S. suppliers can resume their business with Huawei but didn’t reveal specifics of which firm can resume supplying Huawei.

Following the new development in this whole scenario, Chinese display maker BOE and fingerprint sensor maker Goodix climbed 10% in their daily forecast, reported Reuters.

Taiwan’s Foxconn and chipmaker TSMC’s share rose 3% and 4% respectively. Chipmakers from the US including Micron, Qualcomm, and Broadcom have also seen a sharp climb in stocks.

Still, the White House and Commerce department haven’t come up with an official clarification whether Huawei can use Android OS or Microsoft for its computers.