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Semiconductors Asia

Chinese Chipmaker SMIC Plunges Nearly 5% After CEO Abruptly Resigns

By Wayne Ma
· · Source: Bloomberg

Shares of China’s top chipmaker, Semiconductor Manufacturing International Corp. fell nearly 5% in Hong Kong after its co-CEO said he would resign, Bloomberg and other media outlets reported. The resignation, which was a surprise to the company’s board, is significant because SMIC is key to China’s plans to reduce its reliance on U.S. chipmakers amid the U.S.-China trade war. SMIC’s...

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