InvestIdeas

Not vested.

Semiconductor Manufacturing International Co. (SMIC) (0981.HK: Quote, Profile, Research, Stock Buzz)(SMI.N: Quote, Profile, Research, Stock Buzz) jumped nearly 16 percent on a news report that Datang Telecom group may buy a 20 percent stake in SMIC, the nation's biggest contract chip maker.

Shares of Semiconductor Manufacturing International Corp (SMIC) (SMI.N: Quote, Profile, Research, Stock Buzz)(0981.HK: Quote, Profile, Research, Stock Buzz), China's top contract chip maker, soared 29 percent.

The stock earlier rose as much as 61 percent in its biggest one-percentage gain ever after it said it planned to sell a $172 million stake to Beijing-based Datang Telecom Technology & Industry Holdings Co Ltd. [ID:nHKG152167]

DJ MARKET TALK: SMIC Likely Hurt By Big 4Q Loss, Bleak Outlook

0828 [Dow Jones] SMIC (0981.HK) likely to fall despite flagging earnings drop in earlier profit warning and shares already retreating 27.3% vs year-to-date high of 38.5 HK cents hit Jan. 7, as results look even weaker than expected, outlook bleak.

4Q loss for China's largest chip foundry by capacity widens to US$124.5 million vs net loss of US$622,000 year-earlier, due to weak demand for chips; company tips 1Q revenue to decline by about 50% on-quarter, plans to cut capital spending by 71% on-year to US$190 million in 2009. Stock closed +3.7% at 28 HK cents yesterday; support at 10-day moving average at 26 HK cents likely tested

Not vested.

DJ MARKET TALK: HSBC Upgrades SMIC To Overweight

1122 [Dow Jones] STOCK CALL: HSBC upgrades SMIC (0981.HK) to Overweight from Neutral as stock down 22% since last earnings and now 26% below unchanged target HK$0.50.

Says, industry visibility is clear enough to support flat to higher revenue through 4Q09 and even the historically seasonally soft 1Q10. "We believe a combination of product mix and new customer ramps are driving the relative outperformance."

Adds, break-even still far off, but clearly making progress; Free cash flow positive for first time in a decade. Stock flat at HK$0.38.

Source: Dow Jones Newswire

Vested.

I bought this stock in March '11 at $0.59 and it has performed really well for me. Even today it surges 4.55% against the HSI flow.
I have a Sell order at $0.95.

Vested

HSBC raises SMIC to neutral.

Not vested. From Dr. Check, The Standard:-

Chipmaker SMIC recently revealed a first-quarter profit of US$10.23 million, down 85 percent from the last quarter of 2010.

It warned income will fall further in the second quarter.

I do not see a turnaround, so again my advice is to sell.

http://www.thestandard.com.hk/news_deta ... 10527&fc=8

Is CIC pushing it up today.

-Not vested now

Dear Winston,

I sold off today at $ 0.67. At least no losses.


Dear Eauyong,

Sorry for what might be a newbie question. Who/What is CIC? Thanks in advance.

Dear Muhajir,

China Investment Corporation (CIC) is a sovereign wealth fund responsible for managing part of the People's Republic of China's foreign exchange reserves. CIC was established in 2007 with approximately US$200 billion of assets under management, making it one of the largest sovereign wealth funds. Since then, CIC's assets have grown to $332 billion at the end of 2009.

More info from their website.... here!