China’s microchip industry is feeling the heat of Beijing’s regulatory scrutiny.

A warning in state media Friday that regulators will show no tolerance in cracking down on speculators in the chip market sent related stocks lower on Monday.

China’s biggest chip foundry Semiconductor Manufacturing International Corp dropped by as much as 5.5% in Hong Kong, while Hua Hong Semiconductor tumbled 8.6%, set for its worst drop in nearly three months. Shanghai-listed Will Semiconductor fell 6.6%, while Hubei Tech Semiconductors was down 6.6%.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook