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SMIC Spikes ~10% against Mkt Trend, Setting New High
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SMIC (00981.HK) sustained its uptrend in the afternoon, and last traded at HKD61.8, up 9.87%, setting a new high, making it the best-performing blue chip. The trading volume was 280 million shares, involving HKD16.8 billion. Chinese chip manufacturers are seeking to raise the domestic production of artificial intelligence (AI) chips by 2 times by 2026 to reduce reliance on NVIDIA (NVDA.US), according to the Financial Times. Meanwhile, SMIC reportedly plans to raise its production capacity by 1 time for 7nm chips next year. Besides, SMIC is set to announce its interim results today. AASTOCKS Financial News Website: www.aastocks.com |
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