On July 16, SMIC (00981.HK) fell 3.47% in regular trading, trading at HK$76.65/share, with turnover of HK$1.462 billion. The semiconductor sector continued to face broad-based selling pressure, marking the third consecutive trading day of correction since July 14.

On the news front, the sector-wide pullback intensified profit-taking momentum. Peers including HUA HONG GRACE fell 3.31%, GIGADEVICE fell 5.33%, MONTAGE TECH fell 10.45%, and ILUVATAR COREX fell 3.31%. SMIC had previously surged sharply, with its A-share jumping over 14% on July 9 — briefly surpassing Kweichow Moutai by market cap — and its H-share rising over 5% on July 13. The substantial cumulative gains triggered concentrated selling as investors locked in profits.

Market consensus suggests the medium-term industry catalysts remain intact, including wafer foundry price hike expectations — with TSMC reportedly raising 3nm pricing by up to 15% in the second half — and the World Artificial Intelligence Conference held July 17-20 in Shanghai. The current adjustment is viewed primarily as a technical correction following an overextended rally.

(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.)