SMIC Surges 7%, Hua Hong Semiconductor Gains 3% as CLSA Says Chinese Foundries to Benefit from Strong Demand and AI Chip Localization
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Semiconductor Manufacturing International Corporation (SMIC) shares surged 7% to HKD 68.8, while Hua Hong Semiconductor gained 3.42% to HKD 111.8, following a CLSA report highlighting strong demand for analog chips and AI chip localization. CLSA maintains an Outperform rating for both companies, with target prices set at HKD 93.3 for SMIC and HKD 129.5 for Hua Hong. The report indicates that local wafer foundries are expected to benefit significantly from the ongoing demand and advancements in China's semiconductor industry.
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