ASMPT (00522) saw its stock price plummet by 6.88% in intraday trading, reaching HK$87.55 with a turnover of HK$165 million. The sharp decline comes as investors brace for the company's upcoming third-quarter earnings report, scheduled to be released after market close following a board meeting on the same day.

The sell-off appears to be fueled by a recent Morgan Stanley research report, which forecasts a potential loss for ASMPT in Q3 due to one-time restructuring expenses. Despite the short-term setback, the investment bank advises investors to maintain focus on ASMPT's long-term growth drivers, including CoWoS-L capacity expansion, China's high-bandwidth memory development, and progress in hybrid bonding technology.

According to Morgan Stanley's analysis, ASMPT's Q3 revenue is expected to meet the company's guidance midpoint of $475 million, representing an 11% year-on-year increase. However, the bank projects a net loss of approximately RMB 69 million for the quarter, primarily attributed to one-time restructuring costs estimated at around RMB 360 million. As investors digest this information and await the official earnings release, the stock's volatility is likely to persist throughout the trading session.