On July 15, Hua Hong Semiconductor declined 3.62% in regular trading, trading at HKD 164.9/share, with turnover of HKD 2.509 billion.
The decline reflects continued profit-taking following a nearly 30% rally driven by two major catalysts: the CSRC approval for the company's share issuance to acquire 97.4988% equity in Hualima at a transaction price of RMB 8.268 billion, and Goldman Sachs' dramatic target price increase from HKD 174 to HKD 333 while maintaining a Buy rating. After consecutive pullbacks from July 10 to 13 and a brief stabilization on July 14, selling pressure has resumed.
The broader semiconductor sector is also under pressure, with SMIC down 2.11%, GigaDevice down 2.83%, and Montage Technology down 3.62%, amplifying downward momentum through sector linkage effects.
(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.)
Comments