On October 9, Hong Kong-listed chip stocks experienced a roller-coaster ride. SMIC and Huahong Semiconductor both broke their all-time highs
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On October 9, Hong Kong-listed chip stocks experienced a roller-coaster ride. SMIC and Huahong Semiconductor both broke their all-time highs in the morning session. Huahong Semiconductor surged nearly 10% at one point, approaching HKD 100, but both stocks plunged in the afternoon, turning negative. On the news front, Goldman Sachs recently raised its target price for SMIC and Huahong Semiconductor to HKD 117, stating that the two companies will become China’s leading wafer foundries. Are you optimistic about Hong Kong-listed chip stocks? Have SMIC and Huahong Semiconductor peaked in the short term? Which stock will break HKD 100 first?