HUA HONG GRACE shares plummeted 5.12% in intraday trading on Thursday, as the semiconductor sector faced heavy selling pressure.
The decline was primarily driven by the ongoing siphon effect from Chang Xin Technology's recent mega IPO on the STAR Market, which has led institutional investors to reduce holdings in liquid semiconductor blue-chips like HUA HONG GRACE to reallocate capital.
Additionally, the stock has been under persistent technical pressure, with leveraged capital exiting and margin net repayment exceeding 600 million yuan. Northbound capital also reduced positions, recording net selling of approximately 89 million HKD in recent sessions, further weighing on the share price.
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