SMIC (00981) saw its stock price surge 6.21% during intraday trading, as the Hong Kong semiconductor sector experienced a strong rally. The upward momentum was particularly evident in the chip industry chain, with several key players posting significant gains.
The surge coincides with the recent establishment of the Hong Kong IT ETF (159131), the first ETF focused on the "Hong Kong chip" industry chain. This ETF's benchmark index rose over 2% intraday, reflecting the overall strength of the sector. SMIC, as a major constituent of this index, benefited from the increased investor interest in Hong Kong-listed semiconductor companies.
SMIC's prominent position in the Hong Kong IT ETF, accounting for 19% of the index, underscores its significance in the local semiconductor industry. The ETF's composition, which excludes large-cap internet stocks, provides investors with more targeted exposure to Hong Kong's AI and hard-tech trends. This focused approach may have contributed to the heightened interest in SMIC and other semiconductor stocks, driving the sector's strong performance.