Movement Alert｜SMIC Falls 3.01% in Regular Trading, Semiconductor Sector Hit by Capital Siphon Effect from Chang Xin Technology Mega IPO

Market Focus

Jul 27

On July 27, SMIC fell 3.01% in regular trading, trading at 68.55 HKD/share, with turnover of 5.61 billion HKD.

On the news front, Chang Xin Technology officially listed on the STAR Market today with an issue price of 8.66 yuan/share, raising approximately 579 billion yuan in base proceeds and up to 666 billion yuan with full exercise of the overallotment option, making it the largest IPO in STAR Market history. Institutions estimate its post-listing market capitalization could reach 2 to 3 trillion yuan, fueling concerns that the mega IPO will significantly divert capital from existing technology stocks.

Historically, when SMIC itself debuted on the STAR Market, the STAR 50 Index plunged 8.82% on that day, creating a lasting market memory effect. Institutions have preemptively reduced positions in liquid semiconductor leaders to fund allocations to Chang Xin, intensifying short-term selling pressure across the sector. Within the Semiconductors sector, HUA HONG GRACE fell 8.01%, GIGADEVICE fell 8.45%, MONTAGE TECH fell 8.78%, ILUVATAR COREX fell 6.22%, and BIREN TECH fell 7.47%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Institutions estimate its post-listing market capitalization could reach 2 to 3 trillion yuan, fueling concerns that the mega IPO will significantly divert capital from existing technology stocks.Historically, when SMIC itself debuted on the STAR Market, the STAR 50 Index plunged 8.82% on that day, creating a lasting market memory effect. Institutions have preemptively reduced positions in liquid semiconductor leaders to fund allocations to Chang Xin, intensifying short-term selling pressure across the sector. Within the Semiconductors sector, HUA HONG GRACE fell 8.01%, GIGADEVICE fell 8.45%, MONTAGE TECH fell 8.78%, ILUVATAR COREX fell 6.22%, and BIREN TECH fell 7.47%.(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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