Bangkok, Jan 18, 2026, 06:11 (ICT) — Market closed.
- SMIC01 closed Friday at 4.58 baht, marking its highest finish since debuting on the SET.
- Thai depositary receipts are now acting as a swift proxy for shifts in Hong Kong-listed SMIC and general chip-sector sentiment.
- Traders are eyeing Monday’s open for cues from Hong Kong’s session and any new policy announcements.
SMIC01, the Thai depositary receipt for Semiconductor Manufacturing International Corp (SMIC), closed Friday at 4.58 baht, gaining 0.08 baht. The intraday range was between 4.46 and 4.58 baht. Volume hit 943,663 units, pushing the price to the highest level in its 52-week range, per Stock Exchange of Thailand figures. (SET)
The move marks the DR’s first trading session following the Stock Exchange of Thailand’s announcement to list eight new depositary receipts from Bualuang Securities, including SMIC01, starting Jan. 9. (SET)
A depositary receipt trades in baht but reflects an overseas share. This is significant now as Thai investors use DRs to tap into offshore tech sectors without needing a foreign brokerage account. Semiconductors, in particular, can shift sharply with changes in global risk appetite.
SMIC’s shares closed Friday in Hong Kong at HK$79.20, climbing from the previous HK$77.35, according to Morningstar data. (Morningstar)
The broader market mood continues to drive much of the movement in tech stocks. “A big part of it is not so much focusing on the Fed, but on the rate of earnings growth,” said Anthony Saglimbene, chief market strategist at Ameriprise, during Friday’s U.S. markets wrap. (Reuters)
For trades tied to SMIC, investors are juggling two fronts: the immediate buzz on earnings and interest rate moves, alongside the drawn-out pressure from geopolitics and shifting supply-chain policies shadowing China’s chip industry.
The foundry sector offers plenty of benchmarks, even for holders of Thai DRs. Taiwan Semiconductor Manufacturing Co and Samsung Electronics still set the pace for global chipmaking demand. Meanwhile, Chinese players like Hua Hong respond sharply to domestic policy shifts.
Risks also lie within the wrapper. DR prices may trail or exceed the overseas share due to currency fluctuations, local liquidity issues, and the mechanics of creation and redemption. Plus, trading hours between Bangkok and Hong Kong don’t align.
Headline risk remains another wild card. A sudden shift—tightening or easing—in tech trade policy could send the entire sector’s valuation spinning in a single session. SMIC is perched right on that fault line.
Next up is the open. SMIC01 will follow the lead of the initial Hong Kong print for SMIC on Monday, Jan. 19, and the baht’s action. How closely the Thailand line matches the offshore share will hinge on local flows.
