Movement Alert｜ASMPT Falls 3.21% in Regular Trading, BlackRock Cuts Stake as Post-High Correction Deepens

Market Focus07-08

On July 8, ASMPT fell 3.21% in regular trading, trading at 179.8 HKD/share, with turnover of HKD 207 million. The stock has now retreated over 22% from its June 30 all-time high of 232 HKD.

On the news front, BlackRock disclosed a reduction of its long position in ASMPT from 6.13% to 5.48% as of June 29, signaling a shift in positioning by the global investment giant. Meanwhile, JPMorgan previously warned that chip stocks rallying to record highs had elevated volatility, increasing the risk of forced selling by VaR-sensitive investors breaching risk limits. The semiconductor equipment sector remained broadly under pressure, with peers including SICC down 2.75% and Xinyi Solar down 1.98%.

Citi raised its target price to 250 HKD on July 3 maintaining a Buy rating, citing ASMPT's leadership in TCB and advanced packaging as structural growth drivers. However, short-term profit-taking pressure continues to dominate the tape following the stock's prior 90% rally.

(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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