SMIC is seen as a key player in China's ambition to boost its domestic semiconductor industry, a push that has been accelerated by the trade war between the U.S. and China.
Unemployment and corporate bankruptcies are likely to increase in the coming months, said Ravi Menon, managing director of the Monetary Authority of Singapore.
China's GDP grew 3.2% in the second quarter of 2020 compared to a year ago, beating analysts' expectations and rebounding from the first quarter's contraction.
"We've seen increased flows into Singapore from a variety of destinations, of sources and that includes Hong Kong. But the amounts are not large," said Ravi Menon, managing director of the Monetary Authority of Singapore.
A weaker yuan has previously been a key source of contention between U.S. and the China, with U.S. President Donald Trump accusing Beijing of intentionally letting its currency slide lower.
The secretary of State, who has previously described Huawei and other Chinese state-backed businesses as "Trojan horses for Chinese intelligence," said that the actions should serve as a warning for other tech companies.
The potential vaccine is one of the two most advanced candidates that BioNTech is working on with its partner Pfizer and they received "fast track" status this week from the U.S. Food and Drug Administration.
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South Korea's central bank kept the benchmark interest rate unchanged on Thursday, as policymakers remain wary of further easing amid the government's drive to cool property prices.
U.S. businesses saw an uptick in activity into the beginning of July as states eased restrictions to contain the novel coronavirus pandemic, a Federal Reserve report showed on Wednesday, but many were uncertain about the economic outlook.
Oil prices rose on Wednesday after a sharp drop in U.S. crude inventories, with the market waiting for more direction from a meeting later in the day on the future level of production by OPEC and its allies.