Shanghai Fudan (01385.HK) saw its stock price plummet by 5.04% during intraday trading on Friday, as part of a wider selloff affecting Hong Kong-listed semiconductor companies. The significant drop in Shanghai Fudan's shares outpaced the initial reports of a 3% decline, suggesting an acceleration of the downward trend throughout the trading session.

The semiconductor sector in Hong Kong experienced a broad-based decline, with several prominent chip stocks facing downward pressure. Hua Hong Semiconductor led the losses with a 5% drop, while industry giants like SMIC and innovative players such as Innoscience also saw their shares fall by 3%, mirroring the initial movement of Shanghai Fudan.

Other chip-related companies were not spared from the sector-wide slump. Niche-Tech Semiconductor and Solomon Systech both recorded 2% declines, further highlighting the challenges facing the semiconductor industry in the region. The collective downturn in chip stocks suggests potential sector-specific concerns or broader market factors affecting the semiconductor industry in Hong Kong.