On June 1, Hua Hong Semiconductor (01347.HK) declined 3.29% in regular trading, trading at HKD 159.4 per share, with trading volume of HKD 1.848 billion. The decline extends the broader semiconductor sector correction that has been underway since late May.
On the news front, the pullback continues a pattern of profit-taking across the semiconductor industry following an extended rally that drove year-to-date sector gains exceeding 56%. Market data indicates the sector's price-to-earnings ratio has reached approximately 115x, sitting at the 91st percentile over the past decade. A recent global fund manager survey showed 73% of respondents consider long semiconductor positions the most crowded trade currently. Hua Hong Semiconductor itself surged over 11% on May 28 before retreating 5% on May 29, reflecting heightened volatility. Meanwhile, the company disclosed responses to regulatory inquiries regarding its acquisition of Huali Micro, which would add 38,000 wafers per month of 65/55nm and 40nm capacity.
Within the Semiconductors sector, SMIC is up 0.31%, GigaDevice up 2.7%, Montage Technology down 2.05%, Innoscience down 2.81%, and Biren Tech up 3.56%.
(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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