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SMIC Leaps 6%, Logging 7D Rise, on ~$5B Deal being Most Active Blue Chip
Recommend 6 Positive 15 Negative 5 |
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SMIC (00981.HK) ascended for the seven consecutive trading day. Today (30th), it opened up by 1.14% and peaked at $33. It last mounted 6.04% to $32.5, marking a two-month high, with 154 million shares traded, involving $4.962 billion and representing the most actively traded blue-chip stock. SMIC H-shares are highly sought after by mainland China investors, with a net inflow of $1.389 billion into SMIC (00981.HK) last Friday (27th) from Southbound funds. Goldman Sachs recently released a report, saying it stayed optimistic about SMIC as China's leading foundry because of its customers' growing demand for localized production. Goldman Sachs expected SMIC's gross margins to gradually recover, and raised its H-share target price from $29.2 to $33.4, maintaining a Neutral rating. AAStocks Financial News |
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