Basic Semiconductor rises over 5% as chip sector gains
Basic Semiconductor (9971.HK) rose over 5% in Hong Kong trading to HK$34.880.
The move came as the broader Hong Kong chip sector gained strength in the morning session, with GigaDevice advancing over 13% and Montech rising over 8%. The company officially listed on the main board of the Stock Exchange of Hong Kong yesterday (July 8, 2026), becoming the first carbon-silicon chip stock in Hong Kong. It raised net proceeds of approximately HK$766 million at an issue price of HK$31.62. As an IDM focused on silicon carbide power devices, its listing has attracted market attention despite challenges including consecutive losses and intense industry competition.
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