Stock Track | HUA HONG SEMI Plummets 5.02% Intraday Amid Semiconductor Sector Correction and Profit-Taking

Stock Track06-01

HUA HONG SEMI (01347) plummeted 5.02% during intraday trading on Monday, extending the downward movement in semiconductor stocks.

The decline is part of a broader semiconductor sector correction following an extended rally that has driven year-to-date sector gains exceeding 56%. Market data indicates the sector's price-to-earnings ratio has reached approximately 115x, sitting at the 91st percentile over the past decade. A recent global fund manager survey showed 73% of respondents consider long semiconductor positions the most crowded trade currently, contributing to profit-taking pressure across the industry.

HUA HONG SEMI itself had surged over 11% on May 28 before retreating 5% on May 29, reflecting heightened volatility. Meanwhile, the company disclosed responses to regulatory inquiries regarding its acquisition of Huali Micro, which would add 38,000 wafers per month of 65/55nm and 40nm capacity.

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.

Comments

We need your insight to fill this gap
Leave a comment