SMIC's Hong Kong stock recorded the largest intraday increase in nearly three weeks, and Morgan Stanley upgraded its rating to Overweight

SMIC's Hong Kong stock once rose more than 5%, marking the largest intraday increase in nearly three weeks. Previously, Morgan Stanley upgraded its rating to overweight and significantly raised the target price from HKD 40 to HKD 80. Morgan Stanley stated that the rapid adoption of artificial intelligence applications in China and policy support for domestic AI GPUs will significantly boost domestic demand for advanced process wafer foundry in the next two years. Morgan Stanley also raised the target price for Hua Hong Semiconductor to HKD 60 but downgraded its rating to underweight