SMIC declines 3% in Hong Kong as semiconductor sector weakens

Semiconductor Manufacturing International (981.HK) declined nearly 3% in Hong Kong trading to HK$66.00, as the Hang Seng Index opened 248 points lower and technology stocks broadly softened. The broader semiconductor sector came under pressure, with GIGADEVICE tumbling more than 5% and Hua Hong Semiconductor falling more than 3%.

Despite the decline, southbound capital flows via Stock Connect showed strong buying interest in SMIC on the prior trading day, with net purchases reaching approximately HK$1.152 billion, making it one of the most bought names that day.