By Bingyan Wang
ASMPT shares fell after the chip-equipment maker posted lower quarterly net profit.
Hong Kong-listed ASMPT shed as much as 7.4%, underperforming the benchmark Hang Seng Index, which was 0.3% lower.
The company early Wednesday reported a 66% drop in net profit for the second quarter, as revenue fell 25% from a year earlier.
“The group continued to be impacted by weak industry conditions, marked by conservative consumer spending and capex investment, and ongoing industry supply chain inventory digestion,” it said.
Shares were recently 1.9% lower at 78.40 Hong Kong dollars (US$10.04).
Write to Bingyan Wang at [email protected]
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