“SMIC, China’s largest chipmaker, plunges 23%…”
September 7, 2020
“GUANGZHOU, China — Shares of Semiconductor Manufacturing International Corp (SMIC), China’s biggest contract chipmaker, plunged over 23% on Monday, after the U.S. government said it was considering putting export restrictions on the company.
The firm’s Hong Kong-listed shares plummeted by 22.88% to close at 18.24 Hong Kong dollars on Monday. SMIC’s recently-listed Shanghai shares closed 11.29% lower at 58.80 Chinese yuan.
The U.S. Department of Defense is assessing whether to add SMIC to the Commerce Department’s so-called Entity List…”