On June 29, UMC fell 3.17% overnight, trading at $24.78/share, with turnover of $83,700. The decline came amid continued weakness across the semiconductor sector and persistent profit-taking pressure following a sharp prior rally.

On the news front, the broader semiconductor sector remained under pressure, with Intel down 1.08%, AMD down 0.83%, and Micron Technology down 0.43%, dragging sector sentiment lower. UMC had previously surged on multiple bullish catalysts, including reports of a collaboration with Intel to co-develop 3nm and 12nm process technologies at Intel's Arizona fab, as well as expectations of customer order transfers due to TSMC's reported 25% production cut at the 28nm node. However, UMC issued a filing on the Taiwan Stock Exchange stating it does not comment on speculative reports or market rumors, leaving uncertainty around the partnership's confirmation. This has intensified profit-taking among investors who accumulated gains during the prior rally, with selling pressure continuing to weigh on the stock.

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