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Hedge funds are rapidly selling off global tech stocks, with U.S. tech making up 75% of the net selling, particularly in semiconductors. This shift, driven by macroeconomic pressures and a bearish outlook, has reduced hedge fund exposure to the tech sector to a five-year low of 16.4%. Concerns over AI valuations and trade tariffs have further fueled the selloff, despite reassurances from Goldman Sachs about the sector's strong fundamentals.
Entegris, Inc. reported a quarterly earnings per share of $0.84, exceeding estimates, while its stock recently traded down 4.1% to $88.74. The company announced a quarterly dividend of $0.10, with a yield of 0.45%, and corporate insiders hold 0.67% of the stock. Analysts maintain a "Moderate Buy" rating, with a target price averaging $124.88.
Asian shares plummeted on Monday, with Tokyo's Nikkei 225 dropping over 4% following a significant retreat on Wall Street, driven by fears of worsening inflation and a slowing U.S. economy amid escalating trade tensions. The S&P 500 experienced its worst day in two years, falling 2%, while consumer pessimism about future finances surged, raising concerns about a potential stagflation scenario. As markets brace for upcoming tariff announcements, oil prices and U.S. futures also declined.
Pop Mart, a Chinese toy and collectible company, achieved a revenue of 13.04 billion yuan (approximately US$1.8 billion) in 2024, marking a 106.9% increase from 2023. The company's net profit soared to 3.4 billion yuan (around US$468 million), reflecting a year-on-year growth of 185.9%. Notably, revenue from markets outside mainland China reached 5.07 billion yuan (about US$698 million), a remarkable 375.2% increase, accounting for 38.9% of total revenue.
Toronto Dominion Bank increased its stake in Westlake Corporation, owning 5,190 shares valued at $595,000 after acquiring 335 additional shares. UBS Asset Management raised its holdings by 9% to 346,789 shares worth $39.76 million. Analysts have mixed ratings on Westlake, with a current average rating of "Moderate Buy" and a price target of $138.21, despite recent earnings missing expectations.
China's largest chipmaker, SMIC, reported a 27% revenue increase to a record US$8 billion for 2024, but net profit fell 45.4% to US$493 million due to legacy chip market challenges and US export restrictions, causing a 3.4% drop in shares. Hua Hong Semiconductor, the second-largest wafer manufacturer, saw a 12.3% revenue decline to US$2 billion and a staggering 79.2% drop in net profit to US$58 million, leading to a 3.3% share price decrease. Both companies are grappling with fierce competition and high-end chip production restrictions, while TSMC reported a 40% net profit increase to US$35 billion.
Morgan Stanley has identified significant risks for TSMC related to a potential joint venture with Intel, which could hinder TSMC's operational control and technological lead. The investment bank maintains an Outperform rating for TSMC, with a price target of NT$1,388, but notes that the joint venture poses the largest threat to share performance, overshadowing concerns about AI demand and potential tariffs. TSMC's shares currently trade at NT$952, and a clear denial of the joint venture could lead to a price increase, contingent on strong AI product demand.
Bank of America has reaffirmed a "neutral" rating for Bank of China (OTCMKTS:BACHY), while Goldman Sachs upgraded it from "hold" to "strong-buy." The stock traded down 0.8% to $14.73, with a market cap of $173.45 billion and a P/E ratio of 5.78. Despite a current buy rating, analysts suggest five other stocks may be better investment options.
Gallant Micro Machining Co, a key supplier to TSMC, has reported record orders of NT$1 billion (approximately US$30.21 million) for 2025, driven by strong demand for advanced chip packaging technology, particularly CoWoS for AI chips. President Stone Shih noted improved order visibility extending into early 2026 and expressed optimism about growth fueled by the AI boom. The company also plans to establish a US office and production line, with the first line expected to be operational within two years.
Taiwan's Investigation Bureau is probing Semiconductor Manufacturing International Corp (SMIC) for allegedly illegally hiring local engineers to gain access to advanced chip technology. The inquiry, announced on March 28, includes raids at 34 locations and questioning of 90 individuals, targeting SMIC and 11 other Chinese tech firms. SMIC has not commented on the allegations.
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hedge funds rapidly sell off tech stocks amid market volatility
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13:33 31.03.2025
Entegris stock experiences decline as insider trading activity increases
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10:28 31.03.2025
asian markets plunge as wall street fears escalate over inflation and tariffs
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05:19 31.03.2025
pop mart reports 1.8 billion revenue in 2024 with significant growth
23:00 29.03.2025
westlake corporation sees mixed analyst ratings and institutional investment activity
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18:33 29.03.2025
Chinese chipmakers face financial struggles amid rising competition and export restrictions
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02:00 29.03.2025
Morgan Stanley highlights risks of TSMC Intel joint venture for stock performance
18:23 28.03.2025
bank of china stock receives neutral rating as shares decline slightly
17:19 28.03.2025
Gallant Micro secures record AI chip orders amid growing demand
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08:50 28.03.2025
Taiwan investigates SMIC for illegal recruitment of local engineers
07:39 28.03.2025
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