HK-listed ASMPT loses most in 35 years on weak results, outlook

ASMPT

24/07/2024 03:08

** Shares of semiconductor machine and tools maker ASMPT Ltd
 0522.HK  drop 20.4% to HK$91.10, their biggest intraday pct
decline since June 1989
    ** Stock hits the lowest levels since May 23, and is top pct
loser in the Hang Seng Composite Index, which tracks information
technology firms  .HSCIIT , and the Hang Seng Composite Index
 .HSCI  
    ** ASMPT said its Q2 revenue down 14.3% Y/Y at HK$3.34 bln 
($427.7 mln), with Q2 net profit down 55.6% Y/Y at HK$136.7 mln 
  
    ** Outlook guidance for Q3 at $370 mln-$430 mln range, down
9.9% Y/Y - Co
    ** Hang Seng Commerce & Industry Index  .HSNC  and Hang Seng
Index  .HSI  climb 0.1% each
    ** ASMPT stock up 23.5% YTD  
    ($1 = 7.8088 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))