SMIC shares surged 8.06% in early intraday trading, recouping losses as the capital siphoning effect from Changxin Technology's massive IPO faded and oversold repair demand emerged.
The rebound was fueled by the waning impact of Changxin Technology's STAR Market listing, which had triggered significant institutional selling of liquid semiconductor names. Public fund Q2 reports also revealed that active equity funds substantially increased their SMIC holdings, with a prominent blue-chip fund initiating a historic position, providing valuation support.
The broader semiconductor sector rallied in tandem, with peers such as Hua Hong Grace, GigaDevice, and Montage Tech posting double-digit gains, underscoring a sector-wide recovery.
Comments