Market Insight | ASM Pacific Technology drops more than 7% as consumer weakness persists, institutions expect semiconductor industry to perform flat in the first quarter
ASM Pacific Technology (ASMPT) fell more than 7%, closing down 7.2% at HKD 96.05, with a turnover of HKD 74.8 million. On the news front, the semiconductor sector in the US stock market had generally declined. On April 17, ASML, a manufacturer of semiconductor production equipment, announced its first-quarter performance for 2024, showing a 61% decrease in order volume compared to the previous quarter, exceeding market expectations. Some analysts said that the disappointing order data would make the profit and revenue situation of ASML in the next year "fragile." Citigroup analysts, including Christopher Danely, stated in a previous research report that the performance and expectations of the semiconductor sector in the first quarter of 2024 would be "more subdued" and "unable to replicate the artificial intelligence achievements of 2023." In addition, TSMC lowered its expectations for chip market expansion, warning that the smartphone and personal computer markets remain weak. The world's largest advanced chip manufacturer has lowered its expectations for semiconductor market growth in 2024 to around 10%. CEO Wei Zhejia also lowered growth forecasts for TSMC's leading foundry industry. Meanwhile, the company maintained its estimated spending on capacity expansion and upgrades this year between USD 28 billion and USD 32 billion
According to the information from the Wise Finance APP, ASM Pacific Technology (00522) fell by more than 7%, dropping 7.2% to HKD 96.05 by the time of publication, with a turnover of HKD 74.8 million.
On the news front, previously the semiconductor sector in the US stock market generally declined. On April 17th, ASML, a semiconductor production equipment lithography machine manufacturer, announced its performance for the first quarter of 2024, showing a 61% decrease in order volume compared to the previous quarter, exceeding market expectations. Some analysts said that the disappointing order data has made the profit and revenue situation of ASML in the next year "fragile". Citigroup analysts, including Christopher Danely, stated in a previous research report that the performance and expectations of the semiconductor sector in the first quarter of 2024 will be "more subdued" and "unable to replicate the artificial intelligence achievements of 2023".
In addition, TSMC has lowered its expectations for chip market expansion, warning that the smartphone and personal computer markets remain weak. The world's largest advanced chip manufacturer has lowered its expectations for semiconductor market growth in 2024 to around 10%. CEO Wei Zhejia also revised down growth forecasts for TSMC's leading foundry industry. Meanwhile, the company maintains its estimated spending on capacity expansion and upgrades this year between USD 28 billion and USD 32 billion