SMIC's Star Market Shares Down 7% on Second Day of Trading
Chinese foundry SMIC (688981:SH, 00981:HKEX) saw its newly listed Shanghai stock falling by 7% on the second day after its debut on the Star Market. The market cap of the chipmaker fell to CNY 571.40 billion, losing over CNY 43 billion in two trading sessions.
The investors in the country's semiconductor sector are seemingly selling out their stocks, causing a wave of correction after what many industry insiders earlier called a 'long-awaited slow bull market.'
This text is a result of machine translation.
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