MARKETS & INVESTING | Staff Reporter, Hong Kong

CEO resignation pushes SMIC down in HK trading

China’s biggest chipmaker saw the biggest decline in months in Hong Kong after David Wang failed to win reappointment and eventually quit.

A Bloomberg report said, “The Chinese chipmaker fell 9.5 percent to 57 Hong Kong cents as of 9:39 a.m. local time, the biggest intraday decline since May 20, on resuming trading after being suspended since June 30.”

Former Chinese government minister Zhang Wenyi was appointed acting CEO at Semiconductor Manufacturing International Corp.

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