Movement Alert|BIREN TECH Rises 10.2% in Regular Trading, Semiconductor Sector Stages Strong Rebound After Multi-Day Selloff

Market Focus07-31

On July 31, BIREN TECH rose 10.2% in regular trading, trading at 32.52 HKD/share, with turnover of HKD 291 million.

On the news front, the semiconductor sector staged a strong rebound after consecutive days of collective weakness from July 27 to July 30. Overnight, US semiconductor equipment stocks surged significantly, with Lam Research up 20.44% and Applied Materials up 14.8%, lifting overall market sentiment for the chip sector.

BIREN TECH had previously been under sustained selling pressure following its July 8 placement of 153 million shares at HKD 46.2 per share and the unlock of cornerstone investor holdings. Combined with sector-linked declines and Morgan Stanley reducing its stake from 5.53% to 5.24% on July 16, the stock had retreated over 30% from its placement price. The current move represents a technical recovery alongside the broader sector rebound. Within the Semiconductors sector, GIGADEVICE rose 23.54%, ILUVATAR COREX rose 18.41%, MONTAGE TECH rose 17.42%, HUA HONG GRACE rose 10.12%, and SMIC rose 6.45%.

(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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