Hua Hong Semiconductor A shares (688347) face a leverage test as China tightens margin rules
Shanghai, Jan 19, 2026, 08:15 CST — Premarket Hua Hong Semiconductor’s mainland-listed Class A shares approach Monday’s open close to recent peaks. New restrictions on margin financing are about to kick in, likely rattling some of January’s top chip trades. The immediate concern is leverage. China’s regulators have raised the margin collateral ratio for new borrowings to 100% from 80%,…