Stock Track | SMIC Plummets 5.12% Intraday as Semiconductor Sector Faces Extended Selling Pressure and Profit-Taking

Stock Track

07/17

SMIC's stock price plummeted 5.12% during intraday trading on Friday, continuing a downward trend in the semiconductor sector.

The semiconductor sector has been facing broad selling pressure, with the pullback now extending to its fourth consecutive trading day. SMIC had previously experienced a rapid rally with substantial short-term cumulative gains, which has led to concentrated profit-taking pressure from investors.

Market observers note that while medium-term industry catalysts remain intact, the current adjustment appears to be primarily a technical correction following the prior sharp advance in SMIC's stock price.

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