On June 29, Iluvatar CoreX rose 5.26% in regular trading, trading at HK$711.0/share, with turnover of HK$250 million. The stock rebounded after the previous session's sharp sector-wide pullback.
On the news front, the company convened a shareholder meeting on the same day to vote on a proposal authorizing the buyback of up to 10% of issued H shares, approximately 24.51 million shares. The board stated the buyback would help enhance per-share value and optimize capital structure.
The broader semiconductor sector strengthened in tandem, with HUA HONG GRACE up 7.44%, GIGADEVICE up 7.66%, and MONTAGE TECH up 6.67%. The rebound followed a significant sector correction on June 26, during which Iluvatar CoreX had declined over 12% amid profit-taking after hitting an all-time high of HK$887.50 on June 25. The convergence of a technical rebound, sector-wide recovery, and the buyback catalyst collectively supported the stock's upward move.
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