--- title: "Hong Kong stock movement: Changxin surged 465% to attract capital, GIGADEVICE fell 15.20%, with funds being diverted putting pressure on stock prices" type: "News" locale: "en" url: "https://longbridge.com/en/news/294002274.md" description: "GIGADEVICE fell 15.20%; SMIC fell 2.12%, with a transaction volume of HKD 4.399 billion; Hua Hong Semiconductor fell 7.13%, with a transaction volume of HKD 3.407 billion; Montage Technology fell 10.81%, with a transaction volume of HKD 0.751 billion; Days Intelligent Chip fell 11.06%, with a market value of HKD 142.8 billion" datetime: "2026-07-28T03:03:22.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294002274.md) - [en](https://longbridge.com/en/news/294002274.md) - [zh-HK](https://longbridge.com/zh-HK/news/294002274.md) --- # Hong Kong stock movement: Changxin surged 465% to attract capital, GIGADEVICE fell 15.20%, with funds being diverted putting pressure on stock prices **Hong Kong Stock Movement** GIGADEVICE fell 15.20%. Based on recent key news: 1. On July 28, ChangXin Technology surged 465% on its first day of listing, reaching the top market value in A-shares, leading to funds flowing from GIGADEVICE to ChangXin Technology, creating a stark contrast and causing GIGADEVICE's stock price to decline. Source: Zhitong Finance 2. On July 28, Morgan Stanley reported that the AI-driven semiconductor storage industry is nearing a turning point, with memory contract prices expected to peak in the fourth quarter, leading to a decrease in the market's upward adjustment rate for storage manufacturers' profits, affecting GIGADEVICE's stock price. Source: Zhitong Finance 3. On July 27, HSBC Global Research raised GIGADEVICE's target price, believing it to be a key beneficiary of the memory upcycle. Despite a short-term stock price correction, the long-term outlook remains optimistic. Source: Zhitong Finance The semiconductor industry is facing a cyclical turning point, with significant capital flow. **Stocks with High Trading Volume in the Industry** SMIC fell 2.12%. Based on recent key news: 1. On July 27, China began producing domestically developed DUV lithography machines, planning to deliver them to SMIC and other companies this year. This move may challenge ASML's market position, but the performance of the equipment still needs verification, affecting stock price fluctuations. Source: Hong Kong Economic Journal 2. On July 28, the market is concerned that China is accelerating the construction of a domestic chip manufacturing equipment supply chain, which may increase competitive pressure on ASML and American chip equipment manufacturers, leading to related stock price fluctuations. Source: Viewpoint Network 3. On July 27, the domestic production rate of semiconductor equipment increased, with ChangXin Technology achieving large-scale production, promoting the accelerated introduction of domestic equipment materials, affecting market expectations. Source: Golden Finance The domesticization process of the semiconductor industry is accelerating, leading to increased market volatility. Huahong Group fell 7.13%. Based on recent key news: 1. On July 28, China began producing domestically developed DUV lithography machines, expected to be delivered to SMIC, Huahong Semiconductor, and other companies this year. This news may pose a challenge to ASML's market position, leading to a decline in Huahong Group's stock price. Source: The Information 2. On July 27, Golden Finance reported that a state-owned enterprise in Shanghai has begun mass production of DUV lithography machines, planning to deliver them to Huahong Semiconductor and other companies. This marks significant progress in China's semiconductor industry's push for domestic substitution. Source: Golden Finance 3. On July 26, Sinolink Securities analysts maintained a buy rating on Huahong Semiconductor, with a target price of HKD 208. Despite the analysts' optimism, the market reacted more strongly to news of domestic equipment. Source: Sinolink Securities The domesticization process of the semiconductor industry is accelerating, leading to increased market volatility. Lattice Semiconductor fell 10.81%. Lattice Semiconductor's decline is significant, 1. On July 28, the market lowered its earnings expectations for Lattice Semiconductor, leading to a loss of investor confidence. Analysts pointed out that overall demand in the semiconductor industry is weak, and the company's recent financial report did not meet expectations, further exacerbating the stock price decline 2. On July 27, the uncertainty in the macroeconomic environment increased, leading to a decline in investors' risk appetite for technology stocks. Concerns over global economic growth slowing have resulted in capital outflows from the technology sector, impacting Lanqi Technology. 3. On July 26, fluctuations in the Hong Kong dollar exchange rate affected investors' confidence in Hong Kong-listed companies. The volatility of the Hong Kong dollar against the US dollar increased market uncertainty, putting pressure on Lanqi Technology's stock price. The semiconductor industry is experiencing weak demand, and macroeconomic uncertainty persists. **Stocks ranked at the top of the industry by market capitalization** Tianshu Zhixin fell by 11.06%, with a market capitalization of HKD 142.8 billion, and there have been no significant news recently. The trading is active, and capital flows are evident. 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