Semiconductor Manufacturing Int'l (SMI +6.5%) moves sharply higher after CIC (China's SWF)...

|About: Semiconductor Manufactur... (SMI)|By:, SA News Editor

Semiconductor Manufacturing Int'l (SMI +6.5%) moves sharply higher after CIC (China's SWF) purchases 11.6% of the company for $250M. As the business isn't terribly profitable, China is likely interested in building a competitor to giants like Taiwan Semiconductor (TSM -0.5%).