HK Stock Market Move | ASMPT (00522) rose over 4% in early trading as wafer fab capital expenditure advances steadily; institutions say the company is poised for a Davis double play.

ASMPT (00522) rose over 4% in early trading. As of press time, it was up 3.83% at HK$160, with a turnover of HK$218 million. On the news front, SEMI data shows that global semiconductor equipment billings grew 23% year-on-year in the second quarter, as downstream wafer fabs continued to expand capacity and procure supporting equipment such as optical inspection tools. Industry analysts noted that global wafer fab capital expenditure is advancing steadily, domestic semiconductor equipment makers are continuing to tackle core front-end equipment, the supporting capabilities for components are gradually improving, and the domestic substitution process is continuing to advance. In a research report, KAIYUAN SECURITIES stated that ASMPT is a deep beneficiary of how the AI infrastructure capital expenditure cycle is reshaping the equipment market's prosperity. The company holds an excellent technological position in core bonding equipment for HBM and CoWoS, and its orders and market share are expected to rise in tandem, giving it both industry beta and alpha. Its traditional back-end equipment and SMT businesses are also recovering simultaneously. In 2026Q2, the company achieved continuing operations revenue of HK$4.936 billion, up 52.1% year-on-year, and net profit attributable to shareholders of HK$418 million, up 177% year-on-year. With the subsequent increase in the share of advanced packaging revenue and the release of scale effects, it is expected to usher in a Davis double play in both performance and valuation.