On June 12, Iluvatar CoreX (09903.HK) rose 5.46% in regular trading, trading at HKD 547.5/share, with turnover of HKD 204 million. The rally comes as the HKEX Tech 100 Index inclusion is set to take effect after today's close, with the adjustment becoming officially effective next Monday.
On the news front, Hong Kong Exchanges and Clearing announced that under the fast-track inclusion mechanism, Iluvatar CoreX would be added to the HKEX Tech 100 Index, with the adjustment implemented after June 12 close. This follows the company's formal inclusion in the Stock Connect program effective June 8, which previously triggered a surge of over 15%. Market analysis suggests index inclusion typically attracts passive fund inflows from index-tracking vehicles, enhancing stock liquidity and market visibility. Additionally, Guotai Junan International initiated coverage with an Overweight rating and a target price of HKD 588.16, while the company has proposed a share buyback of up to 10% of issued H shares to enhance per-share value.
The broader semiconductor sector also traded higher, with HUA HONG SEMI up 5.96%, MONTAGE TECH up 6.25%, GIGADEVICE up 5.31%, and SMIC up 3.55%.
(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.)