Semiconductor Manufacturing International Corporation (SMIC) saw its stock price surge by 11.62% during Wednesday's trading session, outperforming the broader Hong Kong market. This significant rally comes as Chinese leaders are reportedly planning to meet to discuss measures to boost the economy and stabilize capital markets amid escalating trade tensions with the United States.

The impressive gain in SMIC's stock price is part of a broader rebound in Hong Kong-listed technology companies. The Hang Seng Tech Index rose 1.75% after an initial drop of 6%, with other tech giants like Xiaomi and Meituan also posting gains. This sector-wide recovery comes as investors anticipate potential supportive measures from the Chinese government.

The planned high-level meeting in China, which could take place as early as Wednesday, is expected to address ways to boost domestic consumption and support capital markets. This comes at a crucial time as US duties on Chinese imports have nearly doubled to 104%, intensifying the ongoing trade dispute between the two economic powerhouses. The semiconductor industry, represented by companies like SMIC, is particularly sensitive to these geopolitical and economic developments, which may explain the outsized investor interest in the stock.