Movement Alert｜GigaDevice Falls 4.58% in Regular Trading, Storage Chip Stocks Sell Off Across the Board

Market Focus06-05 09:36

On June 5, GigaDevice (03986.HK) declined 4.58% in regular trading, trading at HK$731.0/share, with trading volume of HK$232 million. The drop came as part of a broad-based selloff in Hong Kong-listed storage and memory semiconductor stocks.

On the news front, storage concept stocks in Hong Kong fell sharply across the board on June 5. Leveraged products tracking SK Hynix dropped over 15%, while Samsung-linked leveraged ETFs fell over 13%. Montage Technology declined over 4%. The sector-wide weakness follows a period of extreme gains — GigaDevice had surged over 350% in the past year, with its A-share price briefly exceeding RMB 540 — and mounting concerns over elevated valuations at approximately 55x forward earnings. Additional headwinds include Chairman Zhu Yiming's recent reduction of 6.33 million shares (approximately RMB 2.5 billion in proceeds) during May, and broader market rotation away from high-beta technology names into defensive sectors amid fading policy stimulus expectations.

(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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