HK Stock Market Move | ASMPT(00522) surged nearly 6% to reach a new high. According to reports, the company recently showcased its HBM TCB technology to Samsung Electronics.

ASMPT (00522) rose nearly 6% in the afternoon, hitting a new historical high. As of the time of publication, it had risen by 5.91% to 134.3 Hong Kong dollars, with a transaction volume of 6.11 billion Hong Kong dollars. On the news front, according to media reports, ASMPT recently showcased its HBM TCB technology to Samsung Electronics, and the project has entered the joint evaluation stage. Citigroup released a research report stating that ASMPT's stock price has broken through the historical resistance level of 120 Hong Kong dollars for the first time since 2021, believing that the strong performance of the stock price is mainly driven by the above-mentioned reports. If the news is true, ASMPT is expected to add Samsung as its second major customer, further consolidating its leading position in the TCB market. Citigroup stated that as the industry's capital expenditure in advanced packaging increases, ASMPT's business fundamentals are improving. The company continues to streamline its operations, including the potential sale of NEXX and SMT businesses, believing that this will help drive a revaluation of the stock price, surpassing historical levels.