HK Stock Market Move | GigaDevice Semiconductor Inc. (03986) rose over 10% in early trading, with the market value of the three storage giants all exceeding one trillion US dollars. Changxin Technology's IPO will be discussed today.

GigaDevice Semiconductor Inc. (03986) rose more than 10% in early trading, up 8.12% to 892 Hong Kong dollars as of press time, with a turnover of 4.97 billion Hong Kong dollars. On the news front, on Tuesday, Micron Technology saw a single-day surge of over 19%, becoming the second trillion-dollar market cap company among the three storage giants after Samsung Electronics. In the early hours of Wednesday, SK Hynix followed Micron's footsteps, with a market value also exceeding 1 trillion US dollars. It is reported that UBS has raised Micron's target price from $535 to $1625, with a market value of up to 1.8 trillion US dollars. Additionally, US President Trump's endorsement is also one of the driving forces behind the sharp rise in Micron's stock price. It is worth noting that Changxin Technology's Science and Technology Innovation Board IPO will be reviewed on May 27. According to the IPO prospectus, GigaDevice Semiconductor Inc. currently holds a 1.8% stake in Changxin Technology. Furthermore, GigaDevice Semiconductor Inc. Chairman Zhu Yiming also serves as Chairman of Changxin Technology. According to a GigaDevice Semiconductor Inc. announcement, between May 11 and May 25, Zhu Yiming sold approximately 6.3299 million shares of GigaDevice Semiconductor Inc. through block trades and bulk transactions, accounting for 0.90% of the company's total share capital.