Suzhou Dongshan Precision Manufacturing Co. proved volatile in its Hong Kong trading debut after an underwhelming HK$9.9 billion (US$1.26 billion) initial public offering (IPO), as investor sentiment was haunted by the deepening sell-off across China’s artificial intelligence (AI) and tech hardware sectors.
Shares of the circuit-board manufacturer, a key supplier of components for AI servers, dropped as much as 6 per cent after its debut in Hong Kong market on Wednesday.
The stock later pared losses to trade down 0.12 per cent at the noon break. Meanwhile, its mainland-listed shares rose 3.3 per cent.