Hong Kong Stock Market Update | ASM Pacific Technology continues to rise by over 5%, SK Hynix increases investment in HBM packaging, news suggests relaxation of HBM4 standards.

ASM Pacific Technology (ASMPT) surged over 5% again. As of the time of publication, it rose by 4.65% to HKD 103.6, with a trading volume of HKD 1.28 billion. According to media reports, SK Hynix is increasing its investment in advanced chip packaging, aiming to seize the opportunities brought by the growing demand for High Bandwidth Memory (HBM) in the market. In addition, industry sources indicate that the main participants of the International Semiconductor Standards Organization recently agreed to set the standard for HBM4 products at 775 microns, thicker than the previous generation's 720 microns. This means that existing bonding technology can fully realize 16-layer DRAM stacked HBM4. Morgan Stanley's research report suggests that the relaxation of HBM4 product height may lead to a greater chance of using thermal compression bonding (TCB) for 16-layer HBM. The rating for ASMPT is upgraded to "Hold," with an increase in its 2026 earnings per share forecast. It is expected that as the market for thermal compression bonding expands in 2026 and beyond, the stock will be further revalued. ASMPT is considered a leader in the TCB industry, with the target price raised from HKD 108 to HKD 123.