Chip stocks fall together, ASML's performance is disappointing, and its third-quarter order amount is far lower than expected

Shares of chip stocks fell collectively. As of the time of writing, Q Tech (02878) fell 3.77% to HK$0.51; SMIC (00981) fell 2.68% to HK$25.45; ASMPT (00522) fell 3.31% to HK$89.15; Huahong Semiconductor (01347) fell 1.83% to HK$21.45.

On the news front, ASML (ASML.US) released a statement on its website that due to a technical fault, its 2024 Q3 financial report will be released one day ahead of schedule on October 15. The report showed that ASML's third-quarter orders were 2.63 billion euros, below market expectations of 5.39 billion euros. In addition, ASML expects its fourth-quarter net sales to be between 8.8 billion euros and 9.2 billion euros, below market expectations of 8.95 billion euros. It expects its full-year net sales to be 28 billion euros, below market expectations of 27.71 billion euros.

Michael Rogge, an analyst at Degroof Petercam Bank, said he expects ASML's warning to weigh on the entire industry, but he noted that its sales are expected to grow from 2024 to 2025. "Despite the sluggish chip end market, demand for equipment has not yet declined," he said.