Leading Memory Chip Stock with 300 Billion Market Cap Plummets to Limit-Down in Afternoon Session

Deep News15:02

On July 16th, the memory chip sector continued its sharp decline in the afternoon trading session. The leading stock, GIGADEVICE, plunged to the daily 10%跌停 limit. As of the time of writing, the stock was down 10%, with its latest market capitalization at 360.8 billion yuan. The trading volume reached 27.7 billion yuan, temporarily ranking as the second highest on the A-share market for the day.

The Shanghai Composite Index and the Shenzhen Component Index both fell by more than 2%. The ChiNext Index and the Science and Technology Innovation Board Composite Index dropped over 3%. The Semiconductor Index, Memory Chip Index, and Advanced Packaging Index all saw declines exceeding 5%.

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