On July 10, SMIC rose 3.23% in regular trading, trading at 86.8 HKD/share, with turnover of 15.9 billion HKD. The rally was driven by Meta CEO Mark Zuckerberg publicly denying any computing overcapacity at the company overnight, emphasizing all available computing resources are fully deployed, which decisively dispelled the sector-wide panic previously triggered by reports of Meta selling idle AI capacity.

On the industry front, wafer foundry capacity remains structurally tight, with mature-node foundries raising supplementary order prices by nearly 20% in Q2 and running at full utilization. TSMC plans further 3nm price hikes of up to 15% in H2, while UMC announced selective price increases for H2. The previous session, SMIC A-shares surged over 14% to a record high, with its market cap surpassing Kweichow Moutai at 1.49 trillion yuan.

Within the Semiconductors sector, HUA HONG GRACE rose 6.54%, GIGADEVICE rose 5.69%, MONTAGE TECH rose 3.75%, INNOSCIENCE rose 3.91%, while ILUVATAR COREX fell 5.99%.

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