On July 3, Iluvatar CoreX (09903.HK) fell 3.39% at open, trading at 612.0 HKD/share, with turnover of HKD 2.57 million. The semiconductor sector extended its prior-session weakness, compounding heavy profit-taking pressure on the stock following its massive prior rally.

The stock hit an all-time high of 887.50 HKD on June 25, then entered a sharp correction phase — plunging 13.75% on June 26 and another 14.53% on July 2. Despite recent bullish initiations from Macquarie (Outperform, target 1240 HKD) and JPMorgan upgrading its target to 920 HKD, short-term selling momentum remains dominant as investors lock in gains from the stock's more than 400% rally since listing.

Within the Semiconductors sector, stocks broadly declined. SMIC fell 0.5%, Gigadevice fell 1.5%, Hua Hong Grace fell 0.7%, Montage Tech fell 2.83%, and Innoscience fell 2.31%.

(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.)