SMIC surged 5.05% during intraday trading on Wednesday, extending gains as the global semiconductor equipment upcycle continued to fuel investor enthusiasm for the wafer foundry sector.

The rally was supported by multiple industry tailwinds. SEMI projected that global semiconductor manufacturing equipment sales will reach a record US$165.9 billion in 2026, up 23.2% year-over-year. TSMC raised its full-year capital expenditure guidance to US$60-64 billion, an increase of roughly US$8 billion or 15% from prior guidance. ASML also reported results that beat market expectations across the board. Additionally, global semiconductor equipment components are experiencing a rare full-chain price surge, reinforcing a volume-and-price growth thesis for the industry.

Within the broader semiconductor sector, peers also traded firmly, with HUA HONG GRACE rising 4.15%, GIGADEVICE up 3.78%, and MONTAGE TECH advancing 2.82%, reflecting broad-based sector strength that lent further support to SMIC's upward momentum.