Hong Kong Stock Movers: Memory Chip Stocks Slide as GIGADEVICE Falls Over 7%, MONTAGE TECH Drops Nearly 6%

Stock News
7 hours ago

Memory-related stocks declined broadly in Hong Kong trading. As of press time, GIGADEVICE (ASX: 03986) fell 7.24% to HK$399.8, while MONTAGE TECH (ASX: 06809) dropped 5.77% to HK$274.2. The leveraged product tracking Samsung Electronics, the Southbound 2x Long Samsung Electronics (ASX: 07747), also declined 5.2% to HK$74.02.

On the news front, TrendForce research indicates that DRAM memory overall maintained a supply-demand imbalance in the fourth quarter, though the pace of contract price increases has slowed. Notably, the market is broadly concerned that continued capacity expansion by memory manufacturers could lead to increased long-term supply, potentially weighing on chip prices.

Additionally, Samsung Electronics' latest earnings report showed third-quarter sales of 195 trillion Korean won, below the estimated 201.9 trillion won, while third-quarter operating profit came in at 107.4 trillion won, also missing the estimated 108.67 trillion won. Both figures fell short of expectations.

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