On June 26, Hua Hong Grace declined 3.27% in regular trading, trading at HK$182.3/share, with turnover of HK$2.677 billion. The stock had previously surged to record highs above HK$200, accumulating over 170% gains year-to-date.
The decline was driven by a sector-wide correction across the semiconductor space. Peers saw significant losses, with SMIC down 5.7%, Montage Technology down 8.45%, Iluvatar CoreX down 10.47%, and Biren Technology down 6.47%, reflecting broad-based selling pressure across the industry.
The prior catalysts that fueled the rapid multi-day rally — including the Shanghai Stock Exchange approval of the company's acquisition of 97.5% of Shanghai Huali Microelectronics for RMB 8.268 billion and TSMC's reported 5%-10% price hike on advanced process nodes — appear to have been fully priced in, triggering profit-taking across the wafer foundry and broader semiconductor complex.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments