China National Building Material Plunges 10% After PCB Hype Pullback

China National Building Material (3323.HK) plunged more than 10% during regular trading to HK$5.89, with turnover reaching HK$838 million.

The stock surged over 20% yesterday on speculation about the PCB concept, with market analysis revealing holdings in new materials companies including Sinomaterial Technology and Sinoma High-Tech, with related assets valued at over HK$153.6 billion. Today the broader HK market weakened with the Hang Seng Index falling over 2%, as China National Building Material saw notable profit-taking along with the wider market.