HK Stock Market Move | ASMPT (00522) Falls Over 7% in Early Trading; SK Hynix Reportedly Delays Some HBM4 Back-End Equipment Orders

ASMPT (00522) fell over 7% in early trading. As of press time, it was down 7.51% at HK$137.9, with a turnover of HK$142 million. On the news front, according to media reports citing industry sources, some HBM4 back-end equipment orders originally scheduled for delivery in the second half of this year show signs of delay, and subsequent order plans have yet to be clarified. Meanwhile, there is no data to corroborate full-capacity utilization of already-delivered equipment, and next year's investment plans have not yet been formally communicated to some suppliers. These developments have raised market concerns about the pace of SK Hynix's HBM4 capacity expansion. Goldman Sachs previously issued a research report stating that it raised ASMPT's 12-month target price by 3% from HK$177 to HK$183, maintaining a "Neutral" rating. The bank holds a positive view on ASMPT's advanced packaging applications, believing it benefits from the technology migration toward smaller pitches, as well as increased applications in GPU, ASIC, and HBM.