Changes in Hong Kong stocks | ASMPT (00522) fell nearly 9% intraday, and the semiconductor industry is expected to slow down or take the lead in putting pressure on equipment stocks

The Zhitong Finance App learned that ASMPT (00522) fell nearly 9% intraday. As of press release, it decreased by 6.18% to HK$106.2, with a turnover of HK$290 million.

Citi published a research report stating that it reaffirmed the ASMPT “buy” rating and lowered the target price by 24% from HK$250 to HK$190. The bank believes that the TCB delay driven by HBM4 is a short-term problem rather than a change in demand. Logical requirements and strong photonics still support strong growth prospects and maintain a long-term positive view.

Morgan Stanley, on the other hand, said that ASMPT benefits from emerging opportunities such as EMIT-T, CoPOS, and photonics, and remains optimistic about its long-term growth prospects, but the industry headwinds may limit short-term upward space. The bank notes that semiconductor industry growth is expected to slow from 132% in 2026 to 35% in 2027. As a leading indicator, equipment stocks will also be the first to be pressured when the cycle slows down.