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“China’s largest chipmaker SMIC posts a 80% drop in third-quarter profit”

“China’s largest chipmaker SMIC on Thursday posted a 80% drop in third-quarter profit as global demand weakness hit foundries hard. Net income for the quarter ended September plunged 80% compared to a year ago — larger than the 64% drop posted in second quarter… Continue Reading…

Stocks

“SMIC, China’s largest chipmaker, plunges 23%…”

“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… Continue Reading…