HK Stock Market Move | Montage Technology (06809) drops nearly 12% as it is being investigated for price manipulation by South Korea. The company has responded that it will actively cooperate.

Montage Technology (06809) fell nearly 12%, and as of the time of writing, it was down 11.89%, at 318.6 Hong Kong dollars, with a turnover of 9.4 billion Hong Kong dollars. On the news front, on July 15th, the South Korean prosecutors conducted a raid on the South Korean offices of three semiconductor companies, including Montage Technology, investigating suspected price manipulation of semiconductor components. According to the Science and Technology Innovation Board Daily, a staff member of Montage Technology's board of directors responded to reporters today, saying that the incident occurred yesterday, and the company is currently understanding the situation. The company has always operated in compliance and will actively cooperate with the investigation. Currently, the company's operations are normal. It is worth noting that overnight, the stock market storage chip sector experienced a sharp drop. SanDisk and Micron Technology both dropped by more than 8%, while SK Hynix plummeted over 9%. Today, in the South Korean stock market, SK Hynix and Samsung Electronics also fell sharply. BOCOM INTL stated that after months of rapid price increases, the storage prices in June slowed down, but they still believe that the industry's supply-demand imbalance will continue at least until the fourth quarter of 2027, and they believe that if prices fall in 2028, the fluctuations may be milder than in previous cycles.