On July 16, Hua Hong Semiconductor (01347.HK) fell 5.14% in regular trading, trading at HK$158.0/share, with turnover of HK$475 million.
On the news front, the stock previously surged nearly 30% within one week following two major catalysts: the CSRC approved the company's share issuance to acquire 97.4988% equity in Hua Li Microelectronics at a transaction price of RMB 8.268 billion, and Goldman Sachs significantly raised its target price from HK$174 to HK$333 while maintaining a Buy rating. Since July 10, the stock has entered a profit-taking phase with sustained selling pressure, and the current decline represents a continuation of this correction.
Within the Semiconductors sector, the overall sector declined broadly. Among individual stocks, SMIC down 3.15%, GigaDevice down 11.04%, Montage Tech down 12.39%, Biren Tech down 1.79%, Iluvatar CoreX down 7.06%. The sector-wide weakness amplified selling pressure on individual names.
(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.)
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