SMIC Down 7.9% in Hong Kong, Down 5.8% in Shanghai on US Ban News
SMIC (00981:HK, 688981:SH), the biggest semiconductor manufacturer in China's mainland, saw its Hong Kong and Shanghai stocks plunging 7.9% and 5.8% as trading kicked off on September 28.
The slump was triggered by the news on a possible ban of the company from using American technologies: being at loggerheads with China, the United States has announced that SMIC's suppliers will need to apply for a special license to continue their business with the chipmaker.
This text is a result of machine translation.
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