On July 3, SMIC fell 3.3% in regular trading, trading at HK$79.85/share, with turnover of HK$25.18 billion. The stock continued to slide following a 10%+ plunge the previous session as the broader semiconductor sector extended its pullback.

The correction was triggered by multiple factors. The Philadelphia Semiconductor Index plunged over 6% overnight, while reports emerged that Meta is developing a cloud business plan to sell computing resources externally, sparking concerns over AI computing power overcapacity. Domestically, the sector experienced technical selling after weeks of consecutive gains driven by wafer pricing optimism and AI demand narratives.

On July 2, northbound funds net sold HK$604 million in SMIC shares. Sector differentiation emerged on July 3, with Biren Tech rebounding 4.93% and Iluvatar Corex rising 4.26%, while Hua Hong Grace declined 1.13% and GigaDevice traded flat. Short-selling pressure had been building, with SMIC's short-sale volume surging 286% in the preceding weeks to HK$1.353 billion.

(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.)