ASMPT Shares Surge Nearly 6% to Record High Following Reported HBM TCB Tech Demo for Samsung

Stock News04-16

ASMPT (00522) rose nearly 6% in afternoon trading, reaching another historic high. At the time of writing, the stock was up 5.91% to HK$134.3, with a turnover of HK$611 million. According to media reports, ASMPT recently demonstrated its HBM TCB technology to Samsung Electronics Co., Ltd., and the project has entered a joint evaluation phase. Citigroup noted in a research report that ASMPT's share price has broken through the historical resistance level of HK$120 for the first time since 2021, attributing the strong performance primarily to the reported development. If confirmed, ASMPT could potentially add Samsung as its second major client, further solidifying its leadership in the TCB market. Citigroup added that as industry capital expenditure in advanced packaging increases, ASMPT's business fundamentals are improving. The company's ongoing operational streamlining efforts, including the potential divestment of its NEXX and SMT businesses, are expected to support a re-rating of its shares beyond historical valuation ranges.

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