Stock Track | SMIC Plummets 9.56% Intraday as Chipmakers Retreat from Record Highs

Stock Track

Jul 02

SMIC's stock plummeted 9.56% during intraday trading on Thursday, marking a significant decline for the semiconductor manufacturer.

The sharp drop was part of a broad selloff in the chipmaking sector, with the CSI Semiconductor Index plunging 6.8% in its biggest one-day decline since October 2025. Chipmakers including SMIC tumbled from recent record highs amid market rotation and profit-taking activity.

Analysts noted that technology stocks cooled sharply as markets underwent a period of rotation following a strong rally, with the semiconductor index having surged 112% year-to-date before the pullback. Some market observers suggested the current retreat might offer a favorable entry point for medium- to long-term positioning in the sector.

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Chipmakers including SMIC tumbled from recent record highs amid market rotation and profit-taking activity.</p><p>Analysts noted that technology stocks cooled sharply as markets underwent a period of rotation following a strong rally, with the semiconductor index having surged 112% year-to-date before the pullback. 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