HK Stock Market Move | HUA HONG SEMI (01347) rose more than 3%. Hua Hong Semiconductor will soon discuss matters such as purchasing equity in China Resources Microelectronics.

HUA HONG SEMI (01347) rose more than 3%, up 2.76% at the time of publication, closing at HK$74.45, with a turnover of HK$1.193 billion. On the news front, on December 29, Hua Hong Semiconductor announced that the company intends to purchase a stake in Huahong Micro through the issuance of shares and cash payment and raise matching funds. After the completion of this transaction, Huahong Micro will become a subsidiary of the company. The company stated that since the disclosure of the transaction proposal, the company and related parties have been actively promoting various aspects of the transaction. The company will convene a board meeting in the near future to review the relevant issues of issuing shares and paying cash to purchase assets, and disclose relevant documents in accordance with legal requirements.