Shares of ACM Research (ACMR, Financial) saw a significant rise, opening more than 10% higher in U.S. markets. The stock surged 10.42%, trading at $20.87, with a trading volume of $55.35 million.
In related developments, the semiconductor sector on the Hong Kong stock market experienced a dramatic growth, with overall gains surpassing 50%, making it the top performing sector. Notably, Hongguang Semiconductor's shares skyrocketed by over 270% during the same period.
According to CMB International, recent stimulus policies introduced by the central government have propelled the Chinese A-share and H-share markets upward, with particularly strong performances in the semiconductor and telecommunications sectors. As of late September 2024, the semiconductor sector index soared by 15.5%. Between September 23 and September 30, the average share prices in the semiconductor A-share group and the optical/telecom group rose by 37% and 32%, respectively.
CMB International anticipates potential revaluation opportunities in the semiconductor industry, with market momentum potentially continuing in the short term, especially for semiconductor stocks listed in Hong Kong.
