ASMPT shares tumbled 7.43% intraday, marking a sharp decline as selling pressure from major institutional investors and broader semiconductor equipment sector weakness rattled sentiment.

BlackRock reduced its stake in the company from 6.13% to 5.48%, while Capital Group sold approximately 810,000 shares at an average price of HKD 191.36, intensifying the downdraft. The persistent institutional selling, combined with a sluggish environment for semiconductor equipment stocks, has kept bullish investors on the sidelines.

The sell-off occurred on the same day the company’s board was scheduled to review interim results, with the announcement expected the following day. Despite market consensus forecasting a 31% year-over-year revenue jump and a more than doubling of adjusted earnings per share, the sharp pre-announcement pullback suggests investors are positioning cautiously, lacking conviction to hold through the earnings release.