(Bloomberg) Shares of China’s biggest chipmaker Semiconductor Manufacturing International Corp., shed 5% on Monday after Beijing warned market speculators.
Hua Hong Semiconductor Ltd. plunged by 5.7%, marking its worst fall in almost three months, while Shanghai-based Will Semiconductor Co. fell by 5.7%. Hubei Tech Semiconductors Co. fell by 3.3%.
The plunge in chip stocks happened as investors grew cautious of an uncertain regulatory environment, following China’s crackdown on chip price speculation.
Some chipmakers have also been blamed for “maliciously” pushing prices up by hoarding components despite the ongoing market shortages.
Traders have been on cautious mode, projecting Beijing to target other sectors, after initially taking on private education tutoring firms last month.
0981: HKG is down -4.97%, 1347: HKG is down -5.69%, 603501: SHA is down -5.74%. 300046: SHE is down -3.33%.
