Movement Alert｜Tianshu Zhixin Falls 3.51% in Regular Trading, Continued Technical Pullback After 17% Surge Combined with Lock-up Expiry Concerns

Market Focus06-02 10:02

On June 2, Tianshu Zhixin (09903.HK) fell 3.51% in regular trading, trading at 433.8 HKD/share, with trading volume of 94.17 million HKD. The decline extends a sustained pullback that began on May 28.

On the news front, the stock had previously surged over 17% from approximately 457 HKD on May 22 to a high of 537.5 HKD, driven by its inclusion in the Hang Seng Composite Index (effective June 8) and Haitong International initiating coverage with an Outperform rating and a target price of 596.7 HKD. The current retreat is interpreted by the market as a continuation of technical profit-taking following the sharp rally. Additionally, the lock-up period for the company's cornerstone investors is set to expire progressively starting in July, with the anticipated unlocking of shares adding to near-term selling pressure.

Within the Semiconductors sector, performance is mixed. SMIC up 1.7%, HUA HONG SEMI up 0.26%, while MONTAGE TECH down 2.58%, GIGADEVICE down 2.61%, and INNOSCIENCE down 1.41%.

(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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