Illustration: Sarah Grillo/Axios

SMIC, China's largest chipmaker, raised $6.62 billion in an IPO on Shanghai's STAR Market, and saw its share price more than triple during its first day of trading. It will continue to be listed in Hong Kong.

  • Why it matters: This is the largest mainland China IPO since 2010, and makes SMIC the most valuable Shanghai-listed tech company with a market cap north of $84 billion.

The bottom line: "The share sale is an important moment for the company but also China’s broader ambition to grow its domestic semiconductor industry, a push that has been accelerated by the trade war between the U.S. and China," wrote Arjun Kharpal of CNBC.

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Oct 8, 2020 - World

More countries join condemnation of China over Xinjiang abuses

Data: Axios research; Map: Naema Ahmed/Axios

38 countries joined Germany at the United Nations this week in condemning China's human rights abuses in the northwest region of Xinjiang, where the government is engaged in a sweeping campaign of demographic genocide against Uighur Muslims and other ethnic minorities.

Why it matters: Statements like this one provide a sense of which countries are willing to challenge China over human rights, and which are lining up behind Beijing.

Dion Rabouin, author of Markets
14 mins ago - Economy & Business

Americans' trust in the Fed keeps falling

Data: Axios/Ipsos poll; Note: ±3.3% margin of error; Chart: Axios Visuals

Americans' trust in the Federal Reserve fell again in October, with just 34% saying they have a fair amount or a great deal of trust in the central bank in the latest Axios/Ipsos poll.

What's happening: While trust in the Fed rises with age, income level and among those who say they know more about the institution, there was not a single group where even half of respondents said they trusted the Fed.

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: California to independently review FDA-approved coronavirus vaccinesWisconsin judge reimposes capacity limit on indoor venues.
  4. Media: Trump attacks CNN as "dumb b---ards" for continuing to cover pandemic.
  5. World: Ireland moving back into lockdown as cases surge — Argentina becomes 5th country to report 5 million infections