Movement Alert｜SMIC Rises 7.82% in Regular Trading, Semiconductor Sector Rebounds as Changxin Technology IPO Siphoning Effect Fades

Market Focus07-31

On July 31, SMIC rose 7.82% in regular trading, trading at 66.65 HKD/share, with turnover of HKD 1.228 billion. The stock rebounded sharply as the capital siphoning effect from Changxin Technology's massive IPO dissipated and oversold repair demand emerged.

Changxin Technology listed on the STAR Market on July 27, raising approximately RMB 57.9 billion with an expected post-listing market cap of RMB 2-3 trillion. The mega IPO had triggered sustained institutional selling of liquid semiconductor leaders including SMIC, with northbound funds net selling over HKD 2 billion in SMIC on July 29 alone. As the first-week IPO shock was gradually absorbed, technical rebound momentum concentrated. Additionally, public fund Q2 reports revealed that active equity funds significantly increased SMIC holdings by 244 million shares, with Zhang Kun's E Fund Blue Chip Select historically initiating its first position in the stock, providing valuation support.

Within the Semiconductors sector, peers rallied broadly: HUA HONG GRACE up 13.78%, GIGADEVICE up 25.99%, MONTAGE TECH up 20.92%, ILUVATAR COREX up 21.22%, BIREN TECH up 16.98%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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