China

A French semiconductor supplier, Sequans Communications (NYSE: SQNS), has been rallying today and the stock has been up over 90% on the session. Benzinga Pro reported at 9:31 am that its LTE technology had been officially approved by China’s Ministry of Industry and Information Technology, which is an entity focused on the regulation and development of China’s wireless industry.

The approval can potentially lead to major contract awards by the Chinese Government and private entities, which would significantly boost Sequans Communications’ top and bottom line.