MTS Help Center

SMIC, China’s largest chipmaker, plunges 23% after U.S. says it could blacklist the firm

Shares of Semiconductor Manufacturing International Corp (SMIC), China’s biggest contract chipmaker, plunged over 23% on Monday, after the U.S. government said it was considering putting export restrictions on the company.

The firm’s Hong Kong-listed shares plummeted by 22.88% to close at 18.24 Hong Kong dollars on Monday. SMIC’s recently-listed Shanghai shares closed 11.29% lower at 58.80 Chinese yuan.

The U.S. Department of Defense is assessing whether to add SMIC to the Commerce Department’s so-called Entity List.

Reference: CNBC