On July 8, SMIC rose 3.81% in regular trading, trading at HK$75.15/share, with turnover of HK$1.153 billion. The rebound comes as the chip sector stages a collective recovery following a sharp multi-day selloff driven by concerns over AI computing power overcapacity.

The prior downturn was triggered by reports that Meta was planning to sell idle AI computing resources to external customers, which the market interpreted as a signal of industry overcapacity. This sent the Philadelphia Semiconductor Index down over 6% and sparked a global chain reaction of selling in chip stocks. SMIC's Hong Kong-listed shares had fallen more than 15% cumulatively since July 2. Some institutions have since argued that Meta's case represents an isolated instance of model capability shortfalls paired with redundant capacity buildout, rather than a systemic industry issue, helping ease bearish sentiment at the margin.

Within the Semiconductor sector, HUA HONG GRACE rose 2.89%, BIREN TECH rose 2.24%, GIGADEVICE rose 2.14%, MONTAGE TECH fell 0.24%, and ILUVATAR COREX fell 1.30%.

(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.)