Stock Track | SMIC Plunges 9.78% as Trump's Tariff Threat Sparks Selloff in Chinese Tech Stocks-To The Moon - Tiger Brokers Online Investing Community

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Stock Track | SMIC Plunges 9.78% as Trump's Tariff Threat Sparks Selloff in Chinese Tech Stocks

Stock Track02-28

Semiconductor Manufacturing International Corporation (SMIC) shares plummeted 9.78% in intraday trading on Friday, caught in a broader selloff of Chinese tech stocks after US President Donald Trump announced plans to double tariffs on Chinese imports.

Trump's escalation of the trade war with Beijing raised concerns over potential disruptions to China's exports, a key driver of its economic growth. The new tariffs exacerbated fears of a slowdown in the world's second-largest economy, already grappling with a property crisis and deflationary pressures.

The Hong Kong stock market was hit hard, with the Hang Seng Index plunging 3.1% and the Hang Seng Tech Index shedding 5%. Alongside SMIC's steep decline, other tech giants like Alibaba, Tencent, and Baidu saw their shares drop significantly, reflecting investor worries over the potential impact on China's burgeoning technology sector.

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Timely
·03-02
Hope it can plunge more, waiting to buy at $35hkd. To be fair, I think it is simply profit taking. I bought 16hkd about 6 months back and sold at $48, hope to buy back if there is an opportunity.
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I bought 16hkd about 6 months back and sold at $48, hope to buy back if there is an opportunity.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/409191806693504","repostId":1133128976,"repostType":2,"repost":{"id":"1133128976","kind":"news","weMediaInfo":{"introduction":"Track stock‘s movements and relevant news","home_visible":1,"media_name":"Stock Track","id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"pubTimestamp":1740730722,"share":"https://ttm.financial/m/news/1133128976?lang=&edition=full_marsco","pubTime":"2025-02-28 16:18","market":"us","language":"en","title":"Stock Track | SMIC Plunges 9.78% as Trump's Tariff Threat Sparks Selloff in Chinese Tech Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1133128976","media":"Stock Track","summary":"Semiconductor Manufacturing International Corporation  shares plummeted 9.78% in intraday trading on Friday, caught in a broader selloff of Chinese tech stocks after US President Donald Trump announced plans to double tariffs on Chinese imports.Trump's escalation of the trade war with Beijing raised concerns over potential disruptions to China's exports, a key driver of its economic growth. 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The new tariffs exacerbated fears of a slowdown in the world's second-largest economy, already grappling with a property crisis and deflationary pressures.</p>\n\n<p>The Hong Kong stock market was hit hard, with the Hang Seng Index plunging 3.1% and the Hang Seng Tech Index shedding 5%. Alongside SMIC's steep decline, other tech giants like Alibaba, Tencent, and Baidu saw their shares drop significantly, reflecting investor worries over the potential impact on China's burgeoning technology sector.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00981":"中芯国际"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133128976","content_text":"Semiconductor Manufacturing International Corporation (SMIC) shares plummeted 9.78% in intraday trading on Friday, caught in a broader selloff of Chinese tech stocks after US President Donald Trump announced plans to double tariffs on Chinese imports.\nTrump's escalation of the trade war with Beijing raised concerns over potential disruptions to China's exports, a key driver of its economic growth. The new tariffs exacerbated fears of a slowdown in the world's second-largest economy, already grappling with a property crisis and deflationary pressures.\nThe Hong Kong stock market was hit hard, with the Hang Seng Index plunging 3.1% and the Hang Seng Tech Index shedding 5%. Alongside SMIC's steep decline, other tech giants like Alibaba, Tencent, and Baidu saw their shares drop significantly, reflecting investor worries over the potential impact on China's burgeoning technology sector.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}