Chinese chipmakers slump as Beijing sends speculation warning

China’s biggest chip foundry Semiconductor Manufacturing International Corp (SMIC) dropped by as much as 5.5% in Hong Kong, while Hua Hong Semiconductor Ltd tumbled 8.6%, set for its worst drop in nearly three months

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

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