On July 17, SMIC (00981.HK) declined 3.72% in regular trading, trading at HK$72.1/share, with turnover of HK$2.017 billion.

The semiconductor sector continued to face broad selling pressure, with the pullback now extending to its fourth consecutive trading day since July 14. Peers across the sector also declined notably, with HUA HONG GRACE down 2.67%, GIGADEVICE down 7.08%, MONTAGE TECH down 4.16%, ILUVATAR COREX down 1.17%, and INNOSCIENCE down 8.29%.

SMIC had previously experienced a rapid rally, with its A-share surging over 14% in a single day on July 9 and its market capitalization briefly surpassing that of Kweichow Moutai. The substantial short-term cumulative gains have led to concentrated profit-taking pressure. Market observers note that medium-term industry catalysts, including wafer foundry price hike expectations and the upcoming World Artificial Intelligence Conference, remain intact, suggesting the current adjustment is primarily a technical correction following the prior sharp advance.

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