SMIC Stocks Plunge as Foundry Faces Trump Administration's Ban
Chinese semiconductor manufacturer SMIC (00981:HK, 688981:SH) saw its shares falling on both the Shanghai and Hong Kong bourses on September 7. The selloff has happened as the United States government is reportedly mulling over blacklisting the foundry for possible connections with China's military sector.
SMIC is the mainland's most important contract chipmaker -- it is projected to take on TSMC in the next few years. The Shanghai-based company's struggles are mainly coming from its inability to serve clients at process nodes lower than 14nm.
This text is a result of machine translation.
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