Movement Alert｜Iluvatar CoreX Declines 4.7% in Regular Trading, Continued Pullback After Rapid Rally Amid Lock-Up Expiry Concerns

Market Focus06-01

On June 1, Iluvatar CoreX (09903.HK) fell 4.7% in regular trading, trading at 468.2 HKD/share, with trading volume of 60.67 million HKD, extending the consecutive pullback from the prior week.

On the news front, the decline is interpreted as a continuation of technical profit-taking following a sharp rally. The stock had previously surged over 17% from approximately 457 HKD to a high of 537.5 HKD after being included in the Hang Seng Composite Index and receiving a first-time Outperform rating from Haitong International with a target price of 596.7 HKD. Since May 28, the stock has been in sustained retreat as investors lock in gains. Additionally, cornerstone investor lock-up periods are set to expire successively starting in July, with the anticipated unlocking adding to near-term selling pressure.

Within the Semiconductors sector, individual stocks broadly declined, with SMIC down 1.59%, Hua Hong Semi down 3.47%, Montage Tech down 2.95%, GigaDevice down 0.47%, and Innoscience down 3.73%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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