By Yifan Wang
Chinese electronic component makers jumped in early trade in Hong Kong on Monday as investors turned more upbeat about potential new orders from major industry client Apple Inc. in coming months.
Shares of BYD Electronic (International) Co. surged as much as 20% by midday, while Sunny Optical Technology Group Co. rose 10% and AAC Technologies Holdings Inc. gained 7.1%. All three companies are Apple suppliers.
The gains followed a Sunday newsletter from Mark Gurman, a Bloomberg tech writer regarded as one of the go-to sources for Apple’s plans and operations, that said the Cupertino, California-based tech giant is planning to begin “one of the most ambitious periods of new products in its history” and will release a “deluge” of new products between the fall of 2022 and the first half of 2023.
Sentiment for shares of China’s smartphone component suppliers have also broadly improved in recent sessions, after official data suggested improved handset sales in May as the country’s consumption gradually recovers.
Write to Yifan Wang at yifan.wang@wsj.com
