On May 29, SMIC (00981.HK) declined 3.85% in regular trading, trading at HK$85.1 per share with turnover of approximately HK$4.971 billion, pulling back from its recent 52-week high.

The decline follows the disclosure on May 28 that China's National Integrated Circuit Industry Investment Fund reduced its long position in SMIC from 8.08% to 7.99% as of May 26, selling approximately 7 million shares in H-stock. The fund also reduced holdings in other semiconductor names including Hua Hong Semiconductor and Debond Technology during the same period. Market data shows the National IC Fund has cumulatively cashed out over RMB 10 billion from semiconductor holdings since the beginning of the year through systematic disposals across multiple portfolio companies.

The pullback comes after SMIC reached its 52-week high following Morgan Stanley's 21% target price upgrade to HK$85 and eight consecutive days of southbound capital net purchases totaling HK$10.14 billion. Within the Semiconductors sector, Biren Tech rose 14.48%, while Montage Tech fell 8.06%, GigaDevice fell 4.68%, Innoscience fell 2.18%, and Hua Hong Semi fell 0.18%.

(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.)