Movement Alert｜Tianshu Zhixin Falls 3.08% in Regular Trading, Continued Technical Correction After Prior Surge Amid Lock-up Expiry Concerns

Market Focus06-04 13:24

On June 4, Tianshu Zhixin declined 3.08% in regular trading, trading at HK$434.2/share, with trading volume of HK$83.9 million. The stock has extended its pullback that began on May 28, now having retreated over 19% from its recent high of HK$537.5.

On the news front, the decline is interpreted as a continuation of technical profit-taking following a rapid 17%+ surge. The stock had previously rallied sharply after being included in the Hang Seng Composite Index (effective June 8) and receiving an Outperform rating from Haitong International with a target price of HK$596.7. Additionally, cornerstone investors lock-up periods are set to expire in July, with the anticipated unlock adding to short-term selling pressure.

Within the Semiconductors sector, individual stocks showed mixed performance, with SMIC down 0.12%, while HUA HONG SEMI rose 4.15%, GIGADEVICE gained 10.2%, INNOSCIENCE climbed 3.26%, and MONTAGE TECH added 1.89%.

(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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