China's SMIC falls on removal from Connect index; Hua Hong drops

Hua Hong Grace Semiconductor

13/08/2021 08:21

** Hong Kong shares of China's top chipmaker Semiconductor
Manufacturing International Corp (SMIC)  0981.HK  fall 5.9% to
HK$24.05, the lowest since July 27
    ** Stock plunges 12.8% so far this week, on track for the
biggest weekly pct decline since mid-September in 2020
    ** Stock is the sixth biggest percentage decliner in the
Hang Seng Tech Index  .HSTECH 
    ** The Shanghai Stock Exchange said on Thursday it would
remove SMIC from an index of eligible Shanghai stocks under the
Shanghai-Hong Kong Stock Connect, starting Aug. 16  urn:newsml:reuters.com:*:nB9N2PD012
    ** Shanghai-listed stock  688981.SS  slump 6.3% to 58.20
yuan, the lowest since July 27
    ** Rival Hua Hong Semiconductor Ltd  1347.HK , which posted
a 148% jump in Q2 net profit and 53.6% growth in revenue, falls
9.3% to HK$43.15, its lowest since July 28  urn:newsml:reuters.com:*:nFWN2PI1WY
    ** Hua Hong on track for the biggest daily pct drop since
March 4; the biggest pct decliner in both the Hang Seng Tech
Index  .HSTECH  and Hang Seng Composite Index  .HSCI  
    ** The Hang Seng Tech Index  .HSTECH  falls 2.3% and the
Hang Seng Composite Index  .HSCI  slips 0.8%
    ** The Hang Seng China Enterprises Index  .HSCE  drops 1.2%
and the benchmark index  .HSI  eases 0.8%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))