---
title: "SMIC drops 5% as global chip rout hits Hong Kong trading"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/296315751.md"
description: "SMIC fell 5% in Hong Kong as global chip stocks sold off after the Philadelphia Semi Index plunged nearly 5% overnight."
datetime: "2026-08-19T07:14:32.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/296315751.md)
  - [en](https://longbridge.com/en/news/296315751.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/296315751.md)
generator: "portal-rs"
---

# SMIC drops 5% as global chip rout hits Hong Kong trading

Semiconductor Manufacturing International Corp (981.HK) **fell 5%** during Hong Kong trading on Wednesday to HK$72.35, as a global chip-sector selloff dragged Asian semiconductor stocks lower.

The decline tracked an overnight **nearly 5% plunge** in the Philadelphia Semiconductor Index and a sharp climb in U.S. Treasury yields to near two-decade highs, which eroded risk appetite across the region. Peer Hua Hong Semiconductor dropped over 12%, while SMIC hit an intraday low of **HK$70.25**.

Fundamentals remain intact. Second-quarter revenue reached **US$3.01 billion**, up 36.1% year on year, and net profit surged 261.7% to US$479 million, with capacity utilization rising to 93.7%. Goldman Sachs recently raised its price target to **HK$153** from HK$135, maintaining a buy rating. Southbound capital has net purchased nearly **HK$4.93 billion** worth of SMIC shares over six consecutive sessions.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**