SMIC's stock price plummeted 5.12% during intraday trading on Friday, continuing a downward trend in the semiconductor sector.
The semiconductor sector has been facing broad selling pressure, with the pullback now extending to its fourth consecutive trading day. SMIC had previously experienced a rapid rally with substantial short-term cumulative gains, which has led to concentrated profit-taking pressure from investors.
Market observers note that while medium-term industry catalysts remain intact, the current adjustment appears to be primarily a technical correction following the prior sharp advance in SMIC's stock price.