Movement Alert｜MONTAGE TECH Falls 3.89% in Regular Trading, Storage Sector Continues Under Pressure After ChangXin Tech Listing

Market Focus

Jul 29

On July 29, MONTAGE TECH fell 3.89% in regular trading, trading at 267.4 HKD/share, with turnover of HKD 245 million. The stock extended its multi-day decline following a 9.41% drop in its A-share counterpart on July 28 and over 12% decline in its H-share that same day.

The continued selloff is primarily driven by the aftermath of ChangXin Technology's listing on the STAR board on July 27, which the market views as a sector-wide \"boots landing\" event. ChangXin Technology's debut saw trading volume exceed RMB 1,400 billion and its market cap briefly surpassed ICBC to become A-share's largest, creating a massive capital siphoning effect on other storage and memory concept stocks. Additionally, Morgan Stanley recently warned that memory prices are approaching a peak, further dampening sentiment across the sector.

Within the Semiconductors sector, broad weakness persists. Among individual stocks, HUA HONG GRACE down 1.59%, SMIC down 1.09%, GIGADEVICE down 4.83%, ILUVATAR COREX down 6.38%, BIREN TECH up 0.13%.

(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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Among individual stocks, HUA HONG GRACE down 1.59%, SMIC down 1.09%, GIGADEVICE down 4.83%, ILUVATAR COREX down 6.38%, BIREN TECH up 0.13%.</p><p>(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. 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The stock extended its multi-day decline following a 9.41% drop in its A-share counterpart on July 28 and over 12% decline in its H-share that same day.</p><p>The continued selloff is primarily driven by the aftermath of ChangXin Technology's listing on the STAR board on July 27, which the market views as a sector-wide \\\"boots landing\\\" event. ChangXin Technology's debut saw trading volume exceed RMB 1,400 billion and its market cap briefly surpassed ICBC to become A-share's largest, creating a massive capital siphoning effect on other storage and memory concept stocks. Additionally, Morgan Stanley recently warned that memory prices are approaching a peak, further dampening sentiment across the sector.</p><p>Within the Semiconductors sector, broad weakness persists. 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ChangXin Technology's debut saw trading volume exceed RMB 1,400 billion and its market cap briefly surpassed ICBC to become A-share's largest, creating a massive capital siphoning effect on other storage and memory concept stocks. Additionally, Morgan Stanley recently warned that memory prices are approaching a peak, further dampening sentiment across the sector.Within the Semiconductors sector, broad weakness persists. Among individual stocks, HUA HONG GRACE down 1.59%, SMIC down 1.09%, GIGADEVICE down 4.83%, ILUVATAR COREX down 6.38%, BIREN TECH up 0.13%.(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. 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