On September 28, SMIC fell 3.31% in regular trading, trading at HK$61.3 per share, with turnover of HK$713 million. The decline came amid a broad sell-off across the semiconductor sector, with multiple peer stocks posting even steeper losses.

The semiconductor industry saw widespread pressure on the session, with sector peers including HUA HONG GRACE down 4.8%, GIGADEVICE down 4.43%, MONTAGE TECH down 4.13%, BIREN TECH down 6.45%, and ILUVATAR COREX down 7.31%. Exchange data showed elevated short-selling activity across the sector, with short-selling ratios at notably high levels, suggesting sustained bearish positioning by institutional traders. Additionally, southbound fund flow data indicated that northbound capital had been net sellers of SMIC for 10 consecutive trading days heading into the session, adding to near-term selling pressure.

Despite the short-term headwinds, Goldman Sachs recently reiterated a Buy rating on SMIC with a 12-month target price of HK$153, citing expectations for AI-driven demand to support revenue growth of 27% year-over-year in the second half, underpinned by domestic substitution trends and continued capacity expansion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)